The recent release of NFP data has made the rate cut inevitable. And so the dollar index is aligned for a major sell-off.
Technically, the index formed a descending triangle pattern in the hourly chart and has rendered a bearish breakout.
The MACD indicator is painting all red as well.
Hence, we expect the index to fall further from here.
Technically, the index formed a descending triangle pattern in the hourly chart and has rendered a bearish breakout.
The MACD indicator is painting all red as well.
Hence, we expect the index to fall further from here.
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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.