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TFC Commodity Trading Forum

U.S.$ Index/ At Important Resistance! *PIC*

DX is bumping up against a long term price resistance area that has stopped DX several times in the past 3 years. Historically DX sells off in April with other inverse currencies and commodities rallying due to this DX selloff. Note the RSI 21 showing a bearish loss of momentum and negative divergence on the recent new rally price highs. So while the price action has been bullish, DX is at the top of an icy hill and spinning it wheels and should be watched cautiously as inverse markets will respond to a DX reversal.