U.S. Dollar Index

DXY: 1D MA50 closing decides the trend.

160
DXY has found Support on S1 (100.800) and turned rather sideways on 1D as also shown by its technicals (RSI = 46.877, MACD = -0.410, ADX = 14.027). The RSI carries strong similarities with the November-January decline so as long as the price trades under the 1D MA50, we will be bearish aiming at the Channel Down bottom (TP = 99.000). If it closes a candle over the 1D MA50, we will turn bullish short term aiming at the Channel's top (TP = 104.000) and then sell.



Prior idea:

DXY: Consolidation and sell after the 1D MA50 breaks.


## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.