A Mid-Term Analysis of the Ichimoku Dollar Index July 12, 2022admin 12 July 2022
Given the price fluctuation above the Ichimoku indicator and also along the uptrend line in the 4-hour chart of the Dollar Index, we expect the price to rise to the resistance level of 111.727.
However, in the short term, after the strong uptrend of the price in the last few days, the dollar index (DXY) needs a correction to the 23.6% Fibonacci level to continue its uptrend so that it has the momentum to continue its uptrend.
Therefore, in the short term, we expect the price to be in a corrective phase. Although the upcoming economic news is very important.