Overview:
Price is currently above the all three EMA's which is indicating to me that the dollar is gaining strength and is bullish. With the momentum as well of a slight upwards trend recently I'm expecting price to break past this area of resistance and continue to make a move to the upside. Overall I have a bullish outlook on this asset if we see a break of the resistance level.
Long setups:
If price is able to break above the area of resistance and retest it for support then I think that there is a good chance the DXY will continue its push to the upside.
Short setups:
If price is able to break below the area of support and retest it for resistance then I'd consider shorting opportunities but I don't want to get short on this asset whilst price is above all three EMA's
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!
Price is currently above the all three EMA's which is indicating to me that the dollar is gaining strength and is bullish. With the momentum as well of a slight upwards trend recently I'm expecting price to break past this area of resistance and continue to make a move to the upside. Overall I have a bullish outlook on this asset if we see a break of the resistance level.
Long setups:
If price is able to break above the area of resistance and retest it for support then I think that there is a good chance the DXY will continue its push to the upside.
Short setups:
If price is able to break below the area of support and retest it for resistance then I'd consider shorting opportunities but I don't want to get short on this asset whilst price is above all three EMA's
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!