The Dollar Index (DXY) is currently consolidating within a large symmetrical triangle formation. Price is sitting around 98.00, testing both horizontal support and the ascending trendline.
We could see:
A fakeout to the downside around the upcoming NFP release, tapping into the demand zone near 97.50 – 97.00.
If this level holds, DXY may quickly reverse and break higher, leading to strong USD strength across major pairs.
We could see:
A fakeout to the downside around the upcoming NFP release, tapping into the demand zone near 97.50 – 97.00.
If this level holds, DXY may quickly reverse and break higher, leading to strong USD strength across major pairs.
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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.
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.