On the Weekly chart, DXY is nearly touching the old low of 89.200 potentially reaching a historical low of 88.250. In this chart, the DXY beautifully rejected from the 78.6% level on the fib, creating a strong momentum to the downside. I expect to reach new lows as inflation in the US is still rising and the FED policy has not yet been changed. We should look on the EU and GU but also at the other dollar related FX pairs for future upward movements.
What do you think DXY is going to do?
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THIS IS NOT FINANCIAL ADVICE. DO YOUR OWN RESEARCH. USE RISK MANAGEMENT AND STOP LOSS.
What do you think DXY is going to do?
Thank you for watching my analysis and reading my trading idea.
Please like and follow my channel for other ideas and insights about the FX markets and if you find this idea useful.
THIS IS NOT FINANCIAL ADVICE. DO YOUR OWN RESEARCH. USE RISK MANAGEMENT AND STOP LOSS.