Interesting movement going on with the Dollar index at the moment.
After seeing a few bullish days we've finally made a sharp downward movement. Earlier today price rallied up to $94.03 and got a strong rejection of our 50.00% fib retracement resides at $94.12 (Fairly close), however this showed a strong rejection of future bullish movement and could potentially see more bearish momentum from here, as Us Dollar it is poised to go lower after having a rally throughout the whole month of May.
What does this mean?
We could see some strengthening in all currencies, especially Euro & Australian dollar.
After seeing a few bullish days we've finally made a sharp downward movement. Earlier today price rallied up to $94.03 and got a strong rejection of our 50.00% fib retracement resides at $94.12 (Fairly close), however this showed a strong rejection of future bullish movement and could potentially see more bearish momentum from here, as Us Dollar it is poised to go lower after having a rally throughout the whole month of May.
What does this mean?
We could see some strengthening in all currencies, especially Euro & Australian dollar.