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24.11.202116:03 Forex Analysis & Reviews: The Dollar index is approaching our next target.

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The Dollar index continues making higher highs and higher lows. Price has broken above the 50% Fibonacci retracement. Price is now moving closer to our next and major target at the 61.8% Fibonacci retracement at 97.50-98 area.

Exchange Rates 24.11.2021 analysis

Green lines - Fibonacci retracement

Blue line - support trend line

The Dollar index has broken the 50% Fibonacci retracement. As we mentioned before, there is no sign of a reversal and price should reach our next target at the 61.8% retracement. The RSI has just reached overbought levels. Bulls remain in full control of the trend and as long as price is above the blue line, bulls remain safe.

Alexandros Yfantis
Analytical expert of InstaForex
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