The Dollar index is turning higher as we expected. We have been waiting for a strong bounce in the Dollar index targeting the 98.50-99 area. Being bearish the Dollar index the last couple of days was wrong with no good risk reward ratio.
Red lines - triangle
Black line - long-term support trend line (broken)
Price has reached important weekly support at the Kumo. The price was expected to bounce off this area and this is what we get right now. The Dollar index is at least expected to bounce towards 99-99.50 area if not something bigger. This is not the time to be bearish the Dollar. If one is longer-term bearish should wait for the bounce to sell higher. Weekly resistance is now at 98.50-99 where we find the broken triangle.