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10.08.2021 03:42 PM
The Dollar index provides a new bullish signal with the break above 93.
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The Dollar index is trading above 93. Price has broken short-term resistance and is making higher highs and higher lows. In previous posts we talked about the similarities of current price formation with the rally of 2018.

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Red lines - bullish divergence

Blue lines -expected size of rise

Black line -short-term resistance

The Dollar index is in a reversal to the upside phase. Short-term trend is bullish and there is a confirmed base around the 89 level confirmed twice. There are plenty similarities to the 2018 rally from 89 to 103 and so far price seems to respect support and bulls seem ready to continue higher.

Alexandros Yfantis,
Analytical expert of InstaTrade
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