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U.S. Dollar Index
Short
Updated

DOLLAR INDEX (DXY): Consolidation & Bearish Bias Explained 💵

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https://tradingview.sweetlogin.com/x/V47oxKVo/

Dollar Index is trading within a horizontal trading range on a daily.
The price tested the resistance of the range yesterday
and formed a doji candle on that.

As an extra bearish confirmation, I spotted a double top formation
on an hourly time frame.

I think that the Index will most likely retrace from the underlined
red resistance.

Targets: 106.35 / 106.17

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Note
we will expect a further bearish continuation next week
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dollarDXYindexesMultiple Time Frame AnalysisParallel ChannelRectangleUSDDJ FXCM Indexusdollarforecastusdollarindexsignals
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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.