DXY
A mid-term analysis of the dollar index (Ichimoku)
Considering the price fluctuation above the Ichimoku indicator and along the upward trend line in the 4-hour dollar index chart, we expect the price to rise to the resistance level of 111.727.
But in the short term, according to the upward trend of the Sharpie price in the past few days, the dollar index needs a correction to the 23.6% Fibonacci level to continue its upward trend to have enough strength to continue its upward trend.
Therefore, we expect the price to be in a corrective phase in the short term. However, the upcoming economic news is essential.
Considering the price fluctuation above the Ichimoku indicator and along the upward trend line in the 4-hour dollar index chart, we expect the price to rise to the resistance level of 111.727.
But in the short term, according to the upward trend of the Sharpie price in the past few days, the dollar index needs a correction to the 23.6% Fibonacci level to continue its upward trend to have enough strength to continue its upward trend.
Therefore, we expect the price to be in a corrective phase in the short term. However, the upcoming economic news is essential.
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.