YEHOK

WHY DXY MIGHT CONTINUE TO FALL

TVC:DXY   U.S. Dollar Index
I will not be going into fundamentals. If you wish to discuss this feel free to DM me.

Lower highs and lower lows in a descending structure / downtrend after a major move is indicative of weakness. What we would be looking out for next is a possible bullish divergence to form on the daily chart for a reversal. Currently on the 1D chart we can see a bearish divergence forming on the MACD.


On the weekly chart we can see why we have held a support. Currently at a lone demand level in between the 0.618 and 0.786 level. The next level and prospected reversal point is a weekly demand at the 0.886 zone.


I believe we will continue to see the value of the dollar diminish at least for the next few months before reaching a potential reversal area.


If the recent lows are taken out we can expect DXY to go into a free fall to the 80.00 range.

Not financial or trade advice.







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