Dollar Index Could Be Topping Here
Updated
The DX price is right in a resistance zone as noted with the rectangle and also with the two price tops circled in black. We also have a spiking weekly candle.
To increase the odds, it would be good for DX to close down below 103.80 tomorrow, Friday, February 9, 2024. The current price is 104.01.
Another confirmation of lower DX prices would be a close below the trend line.
Lower DX prices would imply gold stocks,, gold, silver and other commodities going up; also, stocks often benefit from a lower dollar.
To increase the odds, it would be good for DX to close down below 103.80 tomorrow, Friday, February 9, 2024. The current price is 104.01.
Another confirmation of lower DX prices would be a close below the trend line.
Lower DX prices would imply gold stocks,, gold, silver and other commodities going up; also, stocks often benefit from a lower dollar.
Note
I tried to add a trend line later and could not, so you can imagine an ascending diagonal line from the base of the 7th candle (counting from right to left), that touches the bottoms of the green candles that follow.Trade active
Still iffy, but moving in the right direction.
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