U.S. Dollar Index
Short
Updated

DXY Starts the Bearish Trend!

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DXY Starts the Bearish Trend!

Yesterday, the DXY made a clear breakout on the daily chart from a strong structure zone located near 106.20. Since that moment, the DXY hasn't paused, leading to a weakening USD. Even if the DXY corrects, it is expected to be short-term. The DXY may test the 105.7 - 106.20 range as a maximum before a more significant bearish wave occurs.

The U.S. dollar dropped to a near three-month low against major peers on Wednesday, following the latest round of U.S. tariffs and countermeasures from Canada and China, which stoked fears of an escalating trade war.

Fears about weaker U.S. and global economic activity are driving the sell-off.

You may find more details in the chart!
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Trade active
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DXY Target _1 Reached

The DXY remains weak, having experienced a significant bearish move in a short period.

In just 3.5 days, the price decreased by 3.5%, erasing gains that were built up over about a month in the best-case scenario, and several months in normal scenarios.

The odds are that the DXY may begin a correction before resuming its bearish trend.

The extent of this correction is still unclear, as it is too early to predict accurately. However, it's certain that the USD will not give up its position easily.
Trade closed: target reached
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