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U.S. Dollar Index
Short

DXY - Rising bearish wedge; getting ready to drop?

By ehjreynolds
The chart shows the movement of the DXY over the last 12 months. Since June, the DXY has been forming a bearish rising wedge. In view of Powell's declaration that there will not be any changes to interest rate policy during 2022, the chart has moved rapidly towards the bottom of the channel. It has not yet broken down, but it appears imminent. Month end will be interesting to watch.

Chart PatternsDXYGold
ehjreynolds
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