FX.co ★ Trading plan for US Dollar Index for September 21, 2020

Technical outlook:

US Dollar Index end of the daily chart presented here suggests that the index remains bullish until 91.75 stays intact. Friday's close was just around 93.00 mark while intraday highs today has managed to peak around 93.35/36 levels. The primary corridor which is being worked upon is between 91.75 and 93.65 levels and possibility remains for a drop towards 92.45 before resuming higher again. Also note that fibonacci 0.618 retracement is seen close to 92.40/50 levels and hence a bullish turn could be expected if prices manage to reach there. Immediate resistance remains intact around 93.65, while support is seen at 91.75 respectively. The potential upside targets remain towards 94.50 and 95.00 respectively.

Trading plan:

Remain long for now, stop below 91.75, target is open.

Good luck!