Last week, the price broke out of the falling wedge pattern. Currently, the price is retesting the first support level at 106.760. If the support holds, the price may rise to the resistance level at 107.600. However, if it fails, the price could drop further to the second support level at 106.200.
Dollar Index (DXY/USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading pairs (AUD, NZD, EUR,...)
NOTE: Do not apply trades blindly. Wait for confirmation and always analyze lower timeframes.
Let me know in the comment section below if you have any questions, ideas, or thoughts...
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Dollar Index (DXY/USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading pairs (AUD, NZD, EUR,...)
NOTE: Do not apply trades blindly. Wait for confirmation and always analyze lower timeframes.
Let me know in the comment section below if you have any questions, ideas, or thoughts...
Don't forget to like and subscribe!
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.
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.