Dollar Index (DXY): Consolidation Continues 💸

11 Agu 2023

https://www.tradingview.com/x/XMrjV3fQ/

Dollar Index in consolidating within a horizontal trading range on a daily.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios.

Bullish Scenario
If the price breaks and closes above 102.85 resistance on a daily,
I will expect a bullish continuation to 103.3 area.

Bearish Scenarios
If the price breaks and closes below 101.35 support,
a bearish movement will be expected to 100.6 level.

As always, the best strategy to follow is to wait for a breakout.
For now, it feels like the market will keep staying within the range though.

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