We are approaching the end of the month and the Dollar index is trading lower than the close in May. Price has made no real progress over the last few months as it continues to trade sideways possibly forming a triangle pattern.In June bulls tried to break above May highs but they failed and formed a lower high. Price pulled back towards 101.90-102 and has so far formed a higher low. At the end of the month the Dollar is strengthening again bouncing towards the resistance of 104.30. The RSI remains in the middle of the range confirming the absence of a momentum. Traders better be patient and wait for a key support or resistance level to be broken. Currently trend is neutral.
The material has been provided by InstaForex Company – www.instaforex.com
Black lines- triangle pattern
We are approaching the end of the month and the Dollar index is trading lower than the close in May. Price has made no real progress over the last few months as it continues to trade sideways possibly forming a triangle pattern.In June bulls tried to break above May highs but they failed and formed a lower high. Price pulled back towards 101.90-102 and has so far formed a higher low. At the end of the month the Dollar is strengthening again bouncing towards the resistance of 104.30. The RSI remains in the middle of the range confirming the absence of a momentum. Traders better be patient and wait for a key support or resistance level to be broken. Currently trend is neutral.
The material has been provided by InstaForex Company – www.instaforex.com
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