DXY Bearish Pressure
Although US Dollar Index is in the uptrend and price is bouncing on the ascending trend line, price is facing a strong bearish pressure and has started to retrace the previous uptrend.
Currently, price is dropping sharply and I expect a fall to 95.520, which is also the 38% level of Fibo.
If today’s Daily candle closes below the yesterday’s candle and engulfs it, we expect more drop on DXY to the next low which is also an approach and a retest to the ascending trend line (94.00) for the next week.
What is your outlook on DXY?
Feel free to share your ideas in the comments.
Currently, price is dropping sharply and I expect a fall to 95.520, which is also the 38% level of Fibo.
If today’s Daily candle closes below the yesterday’s candle and engulfs it, we expect more drop on DXY to the next low which is also an approach and a retest to the ascending trend line (94.00) for the next week.
What is your outlook on DXY?
Feel free to share your ideas in the comments.
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