The dollar index trades 0.06% higher on the session today. There is a rising wedge chart pattern on the 4-hour timeframe. DXY 4-hour Chart The dollar has been mixed today trading well against commodities currencies but weaker against the safe havens. On the 4-hour chart below, the price has formed a small consolidation wedge pattern after some strength in recent days. The pattern also stopped at the 50% Fibonacci retracement zone which confluences with a resistance level. A break through 98.30 to the downside could be the confirmation of a much-needed mean reversion. Beyond that, there is some support at 97.90 that could halt any further move lower. As the euro is 60% of the basket it would need some strength there but we do have US CPI out soon. Additional Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK: Risk for trade in services due to politics – ING FX Street 3 years The dollar index trades 0.06% higher on the session today. There is a rising wedge chart pattern on the 4-hour timeframe. DXY 4-hour Chart The dollar has been mixed today trading well against commodities currencies but weaker against the safe havens. On the 4-hour chart below, the price has formed a small consolidation wedge pattern after some strength in recent days. The pattern also stopped at the 50% Fibonacci retracement zone which confluences with a resistance level. A break through 98.30 to the downside could be the confirmation of a much-needed mean reversion. Beyond that, there is some support at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
