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
Great analysis, thank you and I agree... so you expect the dxy to reach 94 before end of april already? that would be very bearish for the markets but at least we should get this show over with... this si what i see in the dxy, happy to hear if you agree:
FXAutomate
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@cryptobullethbtcxlm, thanks. I think we will hit 94 in the week of the 12th. This is the Yearly Pivot as well so lots of resistance. From there possible rejection to the downside. Will see closer to the time.