24.10.202214:38 Forex Analysis & Reviews: Dollar index volatility on the rise.

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Red line - resistance

Green line- support

Blue line- trend line support

On Friday the Dollar index came very close to providing a bullish signal. Price made a fake break out above 113.40 and instead reversed lower towards the key support trend line. Price tested the blue upward sloping support trend line and the horizontal support at 111.75. Price has respected so far the support level of 111.75 and has confirmed the importance of this support. Price is showing bouncing signs off the trend line support. A break below 111.75 will be the first important bearish signal after some time, since it will signify the increased chances of a major trend reversal. If the Dollar index fails to hold support, there will be increased chances of seeing a push towards 108 at least, if not lower.

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