TRDVMA

Dollar Index resumes the up move?

FX:USDOLLAR   Dollar Index
19 0 1
After the Brexit, the dollar advanced as a safe heaven, as expected. It then hit the strong resistance zone (shown as the red box on chart). There was a bear wedge (indecisiveness) and as expected price went down. Currently we see what looks like an ABC formation and as we speak, there is a strong Thrust developing. There is certainly a good deal of push required in order to pierce the Resistance Zone , however, many signs indicate that the dollar is going up. Suggestion is to relocate your portfolio and increase your dollar holdings, but with caution.

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