A technical review on the US Dollar Index vs todays technical outlook

H4 chart

Price has been slow for the week, and for the better part of today. Price jumped up and actually gapped to fib61.8 resistance of the daily chart swing high to swing low as FED minutes came out. It then immediately dropped back to where its been for the week. This could be that price found resistance as Fib61.8 and might start lower lows and highs down to weekly target. Tomorrow USD President Trump will meet with chinese President Xi, and the outcome of the meeting might move the index either way, according to how traders interpret the meeting. Trumps meeting and NFP friday are the last opportunities for high news volatality this week

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.