DXY - Price Structure
During November 2016 the U.S Dollar broke out and closed above an extremely important resistance level and since then price has returned to that exact level, raising a lot of questions in terms of analysis going forward.
Straight away you can see price was been stuck in consolidation since the beginning of 2015. Testing support and resistance multiple times within that 2 year time period, struggling to breakout until November!
Now that we are trading above the resistance level and 200 EMA I would consider a bullish U.S Dollar short term... Pay close attention to this price structure throughout 2017.
Straight away you can see price was been stuck in consolidation since the beginning of 2015. Testing support and resistance multiple times within that 2 year time period, struggling to breakout until November!
Now that we are trading above the resistance level and 200 EMA I would consider a bullish U.S Dollar short term... Pay close attention to this price structure throughout 2017.
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