I talked about this in The Trading Battle a few days ago. The DXY high occurred right at the channel extension of the channel from the May 2021 low. The upper parallel of that channel, formerly resistance, has provided support this week. Former resistance providing support...it happens with channels/trendlines/etc. as well as horizontal levels. Anyway, this is a big level. DXY isn't outright bearish until this level breaks.
-Jamie Saettele
-Jamie Saettele
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
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.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
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.