Re-testing the 100 handle...Heading higher?
The Dollar has completed an impressive recovery despite several rate cuts, as Corona Virus sends investors to safe havens.
However, now DXY is facing strong weekly resistance that includes:
1) Weekly Structure
2) The 100 psychological level
3) The 61.8 Fib level (monthly)
The Dollar can turn here... if it will, perhaps you can find opportunities in oversold currencies (like AUDUSD, NZDUSD).
If the Dollar will break higher, it will probably continue towards the PRZ of monthly Gartley
However, now DXY is facing strong weekly resistance that includes:
1) Weekly Structure
2) The 100 psychological level
3) The 61.8 Fib level (monthly)
The Dollar can turn here... if it will, perhaps you can find opportunities in oversold currencies (like AUDUSD, NZDUSD).
If the Dollar will break higher, it will probably continue towards the PRZ of monthly Gartley