The overall market sentiment for the Dollar Index is bearish. However, we can observe a retracement on the weekly timeframe.
The portion shaded yellow on the chart is a previous high, where the market could seek liquidity if DXY continues to trade downwards. When the price gets to that region, it gives us confirmation that the dollar index will continue to go lower, and we can be sellers of the USD-X pairs. It is left for you to find your entry & exit strategy.
DO NOT RISK MORE THAN 1% OF YOUR ACCOUNT.
Happy Trading!
The portion shaded yellow on the chart is a previous high, where the market could seek liquidity if DXY continues to trade downwards. When the price gets to that region, it gives us confirmation that the dollar index will continue to go lower, and we can be sellers of the USD-X pairs. It is left for you to find your entry & exit strategy.
DO NOT RISK MORE THAN 1% OF YOUR ACCOUNT.
Happy Trading!