The dollar
DXY
is still strong as we used to be , but it has been under selling pressure for a month or more with a bearish channel on the four-hour period.
When we look at the dollar and move away in timeframes, we will see that the dollar is currently on the monthly, under strong resistance and under the tip of the upper ascending channel.
As for myself, I do not look at fundamental analysis. What concerns me is technical analysis, and technical analysis says that the dollar has given everything it has and is on its way to give up its gains and return to the nearest monthly support.
After the weekly closing, we may see more selling pressures that might lead it towards 109. Let's wait for what things will turn out.
Happy new week everyone, be careful, use stop-loss orders, don't be greedy, and don't open your phones every 5 minutes
DXY
is still strong as we used to be , but it has been under selling pressure for a month or more with a bearish channel on the four-hour period. When we look at the dollar and move away in timeframes, we will see that the dollar is currently on the monthly, under strong resistance and under the tip of the upper ascending channel.
As for myself, I do not look at fundamental analysis. What concerns me is technical analysis, and technical analysis says that the dollar has given everything it has and is on its way to give up its gains and return to the nearest monthly support.
After the weekly closing, we may see more selling pressures that might lead it towards 109. Let's wait for what things will turn out.
Happy new week everyone, be careful, use stop-loss orders, don't be greedy, and don't open your phones every 5 minutes
