DXY: Test strong resistance:Where is the momentum for USDollar ?
Look at on the chart. DXY test strong resistance at 95.20 where EMA50 + SMA100 + Kumo cloud converge.
So this is a strong resistance. DXY need to be provided a strong catalyst to break those resistance levels.
Currently, I see there is little of data could provide enough fuel for Dollar to move higher from the resistance.
Howerver,I still hope USDollar find momentum from somewhere.
Tomorrow, the main focus is US GDP , and I think the data would be positive , higher the preliminary. If this happens, DXY could advance to Kumo cloud, and we should wait for more data because when an index reach Kumo cloud, it usually fluctuate like a plane in a strong storm.
So this is a strong resistance. DXY need to be provided a strong catalyst to break those resistance levels.
Currently, I see there is little of data could provide enough fuel for Dollar to move higher from the resistance.
Howerver,I still hope USDollar find momentum from somewhere.
Tomorrow, the main focus is US GDP , and I think the data would be positive , higher the preliminary. If this happens, DXY could advance to Kumo cloud, and we should wait for more data because when an index reach Kumo cloud, it usually fluctuate like a plane in a strong storm.