Since the beginning of the year, the price has been moving in an upward trend from the support level of 89.19. However, in early April, the price came to the strong resistance zone 93.12, where the historically strong level and the 2016 resistance line intersect.
From this point, the price reversed and began to fall. In the course of the fall, the price was able to break through the resistance line - at that moment of support - 92.25. Left the trend and eventually stopped at the January 2021 support line at 91.58. I expect that from this point the price will start a new rise and come to the resistance line 92.65.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
I have noticed that people who post the idea here don't share the root of their analysis. Why the value of the US dollar might increase as shown in the picture? Can you explain it? please.