The Dollar index is showing reversal signs. This is not the time to be bearish on the Dollar. I expect a strong bounce higher in the Dollar index where we will get a better opportunity to sell the Dollar.
Blue lines - trading range
The Dollar index has broken the trading range upwards. Price is inside the 4-hour Kumo. Trend has changed to neutral from bearish for the short term. Resistance is at 98.35. Support is at 97.28.
Red line - resistance
Green line - long-term support trend line (broken)
The Dollar index is bouncing off the weekly Kumo (cloud). This is the time for the Dollar to bounce. The Dollar is expected to move towards 99 or even higher. I'm bullish on the Dollar at current levels for at least a short-term bounce.
