DXY, Short position from 103.6
DXY DXY will potentially have a strong SHORT to 101.789 if the Daily Price closes below the EMA-200 on the Daily Time Frame.
1. DXY has been contained in a descending channel since 30th Nov. 2022 when it short below the 106.879 resistance.
2. There was an attempted breakout of the base of the channel earlier this year, 1st February which ended up false which the bulls brought the price back into the channel and ascended to the apex of the channel last Wednesday, 16th August.
3. DXY bulls are set to lose momentum as long as the Daily candle can close below the EMA-200 which is very likely looking at the reaction between last Wednesday and Friday.
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