US Dollar (DXY) Breakdown - When does it happen?
I have drawn this before on weekly basis - thought it would be a good idea to show it on more granular level using daily chart.
This week the US Dollar (DXY) put in a double bottom matching the low of August 18th. This may be an inflection point.
The Dollar Index absolutely could go lower to about 91.50 and still remain in this channel. This is where a 12 year tend line gets broken.
Most retail buyers are short this market.
__________________Long_________Short ______________Net
Fund Managers_____270273 ______125396____________ 144877
Speculators _______43916________109948 ___________ -66032
Source Bloomberg 8-28-2020
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