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The Dollar index has so far held above the support trend line and this is a promising sign. Price continues making higher highs and higher lows despite the deep pull back from 93.30 to 90.60. The Dollar index has increased chances of pushing higher from current levels as long as price is above 90.50.
The Dollar index back in December most probably made an important low. Since then trend has reversed as price is making higher lows and higher highs. Price is now very close to trend line support. Traders should take advantage of this and turn bullish as long as price holds above the trend line. Breaking the blue trend line to the downside will most probably push price below the December low.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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