• Vasily Trader

DOLLAR INDEX (DXY) Important Decision Ahead!

Hey traders,

Dollar index is approaching a key weekly resistance cluster.

94.6 - 95.0 is the decision zone.

Depending on the reaction of the price to that I see two potential scenarios:

In case of a bullish breakout of the yellow zone,

a strong bullish continuation will be expected.

Next resistance will be 96.0 level

In case of a bearish breakout of a support line of a rising wedge pattern,

a strong bearish movement will be expected.

Next support will be 92.0 level

Wait for the reaction first, then follow the market.