FXAutomate

Dollar index looks ready to breakout

Long
TVC:DXY   U.S. Dollar Index
After completing a double bottom starting in December last year, price has successfully broken out and are currently facing the final hurdle before a substantial move higher. Currently, price is testing a combination of major diagonal resistance, the Daily 200 SMA and Monthly R2 Pivot. If it manages to break this level, the Yearly Pivot @ 94.05 is almost certainly the next target level. If resistance holds (for now) there is some support around the Monthly R1 @ 92. Stops can be considered @ 91.315

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