USD- The REAL moment of truth!
Since May's 2021 low, the Dollar Index was very bullish and the price has risen around 8%, but more importantly, has broken above 95 zone very important resistance.
After this important break, the price consolidated for one and a half months, but the price lacked continuation and, instead, has broken this consolidation to the downside.
At this moment we can't say out loud "reversal", but there are a lot of red flags coming with this development.
Technically the index is sitting on confluence support now and the trend remains up so far.
However, a clear break under this confluence support would be extremely bearish for USD with the confirmation of a false break and more importantly a lower high in place.
If this is the case, Dxy can drop and revisit the 90 zone if not even further
After this important break, the price consolidated for one and a half months, but the price lacked continuation and, instead, has broken this consolidation to the downside.
At this moment we can't say out loud "reversal", but there are a lot of red flags coming with this development.
Technically the index is sitting on confluence support now and the trend remains up so far.
However, a clear break under this confluence support would be extremely bearish for USD with the confirmation of a false break and more importantly a lower high in place.
If this is the case, Dxy can drop and revisit the 90 zone if not even further
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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