Dollar Index Analysis

2 May 2020

Double top pattern on the dollar index. A breakout from the neckline would suggest downside and some dollar weakness across the board. Alternatively, we could be witnessing a fake-out. On the daily time frame, there are multiple confluences around the next support level including a 200day MA, key fib level while also being at a key psychological level. Either way, we will look for confirmations to confirm the future direction rather than being predictive it is best to become reactive to market information.