The Dollar is strengthening making new weekly highs. Price has made another major low around the 90 level and has respected the long-term support at 89-90. Price has started another upward movement as we expected, following the similar conditions from the past.
Black line - major horizontal support
Blue lines - bullish divergence
Green lines -expected path
The Dollar index is moving higher as it did back in 2017. The bullish RSI weekly divergence is similar and price again then tested the 89-90 support area. As we mentioned this pattern in previous posts, it is important to remind past is a guide and markets usually repeat patterns. Respecting the black horizontal support was a key characteristic for this bullish move.