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FX.co ★ Dollar index moves higher as expected from March 15th

Dollar index moves higher as expected from March 15th

In our analysis back on March 15th regarding the Dollar index we noted the similarities with the price behavior back in the beginning of 2018 when the index was bottoming around 88-89 price level and then turned higher for a move towards 103.

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Dollar index moves higher as expected from March 15th

Blue lines - bullish divergence

Yellow rectangle -horizontal support area

The Dollar index was trading below 92 when we talked about the similarities back in March 15th. Price has now advanced above 93 following a similar path to that of 2018. Will this upward move continue and replicated the same move with 2018? Price continues to make higher highs and higher lows. The RSI is far from overbought and with a positive slope. There is no sign of a weekly reversal. We might see a pause in the up trend, but there is no sign of a reversal.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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