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flag ★ Dollar index pulls back.

Forex Analysis:::2022-04-20T20:03:04

Dollar index pulls back.

In previous posts we noted that we prefer to be neutral than bullish in the Dollar index because the upside potential is limited. Price is turning lower and this could be the start of a bigger pull back.

Dollar index pulls back.

Black lines -bullish channel

Technically trend remains bullish as price continues to trade inside the upward sloping channel. Price continues to form higher highs and higher lows. The bearish RSI divergence was the first warning. We noted that a pull back was justified. With a high at 101, price is now just above the 100 price level. There is potential for a move much lower towards 98-97. Bulls need to be very cautious.

Analyst InstaForex
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