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FXAutomate
Aug 2, 2022 8:40 AM

Dollar Strength off Yearly R1 Long

U.S. Dollar/Swiss FrancFXCM

Description

With the DXY currently on major support (see my linked idea), I expect a possible bullish reversal from the Yearly R1 that price is currently testing. There remains the possibility for another move slightly lower to around 0.942 where we will see a test of the Daily 200 SMA. The initial bullish target will be the untested monthly pivot @ 0.962 where we also have the Daily 100 SMA with a break above this level possibly targeting previous swing highs near the YR2 @ 0.983
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