07.03.202218:00 Forex Analysis & Reviews: The Dollar index moves above the 99 level.

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On February and March of 2021 when the Dollar index was trading around 89-90 price level, I posted several analysis comparing the similarities to the bottom of 2017 and the following rally. One year ago I noted the increased chances of the same pattern happening again and the Dollar index to rise towards 100.

Today the Dollar index is trading above 99 having reached as high as 99.39. Trend remains bullish as price continues making higher highs and higher lows while at the same time it stays inside the bullish channel. Price has now reached the upper channel boundary which is resistance. At current levels I prefer to be neutral as a pull back towards the lower channel boundary is justified. There is no trend reversal sign. I only believe that it is not worth risking profits if long. Bulls need to be very cautious at current levels.

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