Dollar Index Short

19 авг. 2017 г.

Dollar index. Yellow zones are monthly. Blue zones are weekly. The Dollar began gaining strength and putting in higher highs and higher lows in may of 2011. Recently, the dollar has pierced weekly zone 96-97 which caused consolidation for a number of months before breaking out, putting in a higher high which hit monthly zone 102 but rejected strongly. The 92 area is the most recent support zone that has been tapped 3 or 4 times indicating this is weak level. Zoomed into weekly timeframe you can see the dollar putting in lower lows. Based on a strong rejection of monthly zone 102, and lower lows being put in, I'm anticipating continued dollar weakness, Eventually tapping the next monthly zone 81