DXY reacting off resistance, further drop expected!

3 Nis 2018

DXY is reacting off our major resistance at 90.16 (61.8%, 78.6% Fibonacci retracement, Horizontal swing high resistance) which coincides with our short term descending resistance line. We are expecting a strong reaction to push price down to our major support at 89.26 (76.4%, 61.8% Fibonacci retracement, Horizontal swing low support).

RSI (89) is also facing bearish pressure from our descending resistance.

Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.