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US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY, Gold
It’s been one of those weeks that’s all about the details. The weekly bar of the US Dollar is currently showing as a spinning top but that doesn’t really tell the story of the currency’s price action. Last week showed a strong response to resistance at the 105-105.13 zone, which led to a fast snap back that held through this week’s open. On Tuesday, a key support test began when DXY tested both the 200-day moving average and the bullish trendline connecting last December and this March’s swing low. Also of interest is the fact that this bounce took place above the prior higher-low ahead of the April ... (full story)
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- Posted: May 31, 2024 2:24pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 5,710
