DXY weak below the 91.435 Resistance and 4H MA200The U.S. Dollar Index (DXY) has been rejected multiple times on the 91.435 Resistance since April 21. This is a sign of weakness on the short-term which may jump onto the long-term too is the 4 month Higher Lows Zone (green) breaks, in which case the target will the the February 25 Low of 89.680. With the MACD on an aggressive Bearish Cross, rejected also on the major zone, as long as DXY is trading below the 4H MA200, the sentiment is bearish.
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Usdollarindexsignals
DXY ANALYSISOn my last post i mentioned DXY should drop to that trend and during that drop USD should be weak which actually played out i took advantage of it caught a buy on EURUSD and a sell on USDCAD so now i expect DXY to gain strength so USD should become strong now And i also have a setup for EURUSD sell which is a good correlation EURUSD setup in my next post
DXY Trading PlanPattern: Channel Down on 4H.
Signal: Sell once the price approaches the 4H MA50, which has been acting as the Resistance since November 04.
Target: 91.220 (a -0.75% decline from a projected 4H MA50 contact point).
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