DXY short - Supply Demand - Break Out - Explained - Why DX?

Hello Traders!

So Guys we broke out on the DXY. I am expecting the DXY to retest the Supply Zone and then to drop. On the long run I see it dropping much more. If we look at the monthly we can see that the price will move more down. We got there a Price Action Confirmation for that.

Target:
Target is the Demand Zone marked on the charts.

WHY is DXY dropping?
Me personally I am not surprised about this drop . The DXY became weak due to the impact of the Corona Virus. The Dollar is loosing value. Devaluation. If this is the case then we will see the DXY dropping a lot. But I will make next a more detailed analysis about the fundamentals concerning the FED. Let me know in the comment section what you think about the fundamentals on DXY combined with the impact of Covid 19.

Why do we need to analyze the DXY?
Actually I like to have a look on the DXY because of the Correlation. So the DXY is nice to use when we are trading XAUUSD , EURUSD , AUDUSD , GBPUSD, NZDUSD . Usually when the DXY goes up, the mentioned pairs will go down.

That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.

Thank you and we will see next time
- Darius.