The recent performance of the Dollar Index suggests a potential upward trend, as it has closed multiple daily candles above the yearly trend line. However, for this to be confirmed as a buy signal, it is necessary for the index to clear the resistance at 103.500, the 50-day Simple Moving Average, and close above the upper boundary of the descending channel. If successful, the next target for the upward trend could be 105.700.
On the other hand, if the price fails to overcome these resistances, it may continue to trade within the descending channel with a target of 99.50.
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On the other hand, if the price fails to overcome these resistances, it may continue to trade within the descending channel with a target of 99.50.
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Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
