Reacting together
Do you use the dollar index in your trading?
- I know some of forex brokers don't actually allow you to trade it directly, but everyone will offer it at least as a read only chart now.
- TradingView obviously offers it as per below.
I've shared some DXY technical analysis last week, showing:
- Price coiling into a triangle
- The higher time frame horizontal resistance zone
Well we're at that resistance zone once again now:
And there's the reaction.
But what I wanted to share in this blog was the area that the Euro turned alongside it:
I was just talking about the fact that on the last push up, price stalled in this area before continuing higher. Now price has come back down, this level was again respected.
I just really enjoy how all these levels line up.
