Dollar Index Price Analysis: Inverse head-and-shoulders pattern on D1


The dollar index, which tracks the greenback's value against major currencies, has carved out an inverse head-and-shoulders pattern on the daily chart

Tne neckline resistance is currently seen at 90.92. A close higher would confirm a breakout or bearish-to-bullish trend change, creating room for a rally to at least 92.63 (target as per the measured move method). 

On the downside, the low of the right shoulder – 90.045 – is the level to beat for the sellers. 

At press time, the DXY is trading moderately higher on the day near 90.75. 

Daily chart

Trend: Bullish above 90.92

Technical levels

Dollar Index Spot

Overview
Today last price 90.75
Today Daily Change 0.16
Today Daily Change % 0.12
Today daily open 90.59
 
Trends
Daily SMA20 90.18
Daily SMA50 90.64
Daily SMA100 91.99
Daily SMA200 94.14
 
Levels
Previous Daily High 90.89
Previous Daily Low 90.15
Previous Weekly High 90.95
Previous Weekly Low 90.05
Previous Monthly High 92.02
Previous Monthly Low 89.52
Daily Fibonacci 38.2% 90.61
Daily Fibonacci 61.8% 90.43
Daily Pivot Point S1 90.2
Daily Pivot Point S2 89.81
Daily Pivot Point S3 89.46
Daily Pivot Point R1 90.94
Daily Pivot Point R2 91.28
Daily Pivot Point R3 91.67

 

 

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