After a long period of ranging, the DXY finally managed to break the range's ceiling last week and even gave us a channel confirmation afterward. But if you remember, there were several major news events last week, with the last one on Friday causing the price to fall back into the range. Now we can see that an ascending channel has formed inside the range, and the price is currently at the bottom of that channel. If it manages to break out of the channel again, there’s a chance that this time the trend might truly reverse.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.