Search
Products
Community
Markets
News
Brokers
More
EN
Get started
Community
/
/
DXY - Still In A Healthy Short-Term Downtrend?
U.S. Dollar Index
DXY - Still In A Healthy Short-Term Downtrend?
By TraderNeoh
Follow
Follow
Aug 8, 2022
7
Aug 8, 2022
Hi Traders, DXY has been in such a strong rally since June 2021, which faced an extreme optimism until now.
Mid of July was when the DXY started showing some weaknesses, then now its basically in a short-term downtrend.
As long as 106.80 - 107.30 still remain intact as a short-term resistance structure, I will expect further downside on the DXY.
However, if price at any point finds strength breaking above these two levels then it will invalidate this thesis.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
Beyond Technical Analysis
Chart Patterns
Trend Analysis
TraderNeoh
Follow
Also on:
Related publications
Motivation Is Not A Superpower - The Power of Not Giving Up
by TraderNeoh
Aug 2, 2022
XAUUSD (Gold) - Strong Rejection at 1790 As Planned, What's Next
by TraderNeoh
Aug 8, 2022
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
.