DOLLAR INDEX (DXY): Consolidation & Bearish Bias Explained 💵
Updated
https://www.tradingview.com/x/V47oxKVo/
Dollar Index is trading within a horizontal trading range on a daily.
The price tested the resistance of the range yesterday
and formed a doji candle on that.
As an extra bearish confirmation, I spotted a double top formation
on an hourly time frame.
I think that the Index will most likely retrace from the underlined
red resistance.
Targets: 106.35 / 106.17
❤️Please, support my work with like, thank you!❤️
Dollar Index is trading within a horizontal trading range on a daily.
The price tested the resistance of the range yesterday
and formed a doji candle on that.
As an extra bearish confirmation, I spotted a double top formation
on an hourly time frame.
I think that the Index will most likely retrace from the underlined
red resistance.
Targets: 106.35 / 106.17
❤️Please, support my work with like, thank you!❤️
Note
we will expect a further bearish continuation next week
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