Will the #Dollar Index Rally Continue?
Monday, September 10, 2023
In the weekly chart of the US #Dollar Index, the market structure appears #bullish. Recently, the market found support around the 104 level, and the Dollar #Index has reached the 38.2% Fibonacci retracement level as part of a corrective move.
In this week's trading, if the current #uptrend continues, and the 38.2% resistance level at 105.45 is #broken, the market may find a clear path towards the 50% Fibonacci #retracement at the 107 level.
However, if the #resistance zone at 105.45 holds its ground, the #upward #momentum in the market may be limited, and the Dollar Index could return to the 104 #support level, marking a 23.6% #Fibonacci #retracement #correction.
So based on this analysis I suggests a bullish outlook for the Dollar Index.
In the weekly chart of the US #Dollar Index, the market structure appears #bullish. Recently, the market found support around the 104 level, and the Dollar #Index has reached the 38.2% Fibonacci retracement level as part of a corrective move.
In this week's trading, if the current #uptrend continues, and the 38.2% resistance level at 105.45 is #broken, the market may find a clear path towards the 50% Fibonacci #retracement at the 107 level.
However, if the #resistance zone at 105.45 holds its ground, the #upward #momentum in the market may be limited, and the Dollar Index could return to the 104 #support level, marking a 23.6% #Fibonacci #retracement #correction.
So based on this analysis I suggests a bullish outlook for the Dollar Index.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.