The Dollar Index (DXY) has been in a long term downtrend and once again price has reached the trendline. Will it break? That’s the big question Forex traders are looking at right now.
Price has been in consolidation for a long time and if the trendline breaks we can start to see the DXY trending again and this time that will be to the upside.
I prefer to see a retest of the trendline and a break of the 91 level before calling this a trend reversal and start taking longs.
Price has been in consolidation for a long time and if the trendline breaks we can start to see the DXY trending again and this time that will be to the upside.
I prefer to see a retest of the trendline and a break of the 91 level before calling this a trend reversal and start taking longs.
Note
This dollar breakout is offering a lot of opportunities across the USD pairs. Personally I'd like to see a pullback, retest and a (up)trend continuation from here on outNote
Here we are, a dollar reversal finally. A LOT of opportunities across the market.
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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.