DXY approaching downtrend and ares of sell pressure
Here we have the DXY on the daily timeframe and as you can see we have a daily downtrend and also we have made contact with a significant level of sell pressure. where will the DXY go with inflation now at an all time high? only time will tell. what we are going to do is monitor this closely and wait for either a break to the upside or to the downside, this will determine the overall direction of this and also the USD on every other currency pair. for now we do nothing but wait and see what happens over the next few days.
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