USD Pairs -Fib and Major Resistance/Support - Simple Analysis
A useful perspective to understand the coming convergences between two powerful resistance markers that are further supported by a Fib .50 resistance line (Top Left DXY Monthly). Use this as you look at the other charts.
Add in your own averages and you gain additional insight into the overall trend.
At this point, fundamental support could help push the DXY (USD) higher and eventually break through the resistance. If not, it will stay within the current parallel channel that it is in. Trades can be made for both scenarios if well thought out.
Make smart decisions and let's see what happens.
Add in your own averages and you gain additional insight into the overall trend.
At this point, fundamental support could help push the DXY (USD) higher and eventually break through the resistance. If not, it will stay within the current parallel channel that it is in. Trades can be made for both scenarios if well thought out.
Make smart decisions and let's see what happens.
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