After hitting a new high since years, the DXY may see a reversal and that's why.
The market became over sold on the RSI indicator along with a DOUBLE TOP forming and if we take a look at the MACD indicator the lines are very close to crossing bearish.
We don't have a confirmation for the price movement for now what I want to see is a big red candle closing which indicates a selling pressure alongside a bearish cross in the MACD.
If the DXY started dumping again that could affect or financial markets!!
NB: It's likely to drop because the resistance lines drawn in bright orange are the strongest resistances for the DXY.
The market became over sold on the RSI indicator along with a DOUBLE TOP forming and if we take a look at the MACD indicator the lines are very close to crossing bearish.
We don't have a confirmation for the price movement for now what I want to see is a big red candle closing which indicates a selling pressure alongside a bearish cross in the MACD.
If the DXY started dumping again that could affect or financial markets!!
NB: It's likely to drop because the resistance lines drawn in bright orange are the strongest resistances for the DXY.