Get started
themarketzone

Dollar is testing support as Investors wait for Draghi and CPI

U.S. Dollar Index (TVC:DXY)  
themarketzone  
TVC:DXY   U.S. Dollar Index
Trend Analysis Chart Patterns DXY dollar dollar_index rising risingchannle Parallel Channel EURUSD
3
0
trendanalysis chartpattern dxy dollar dollar_index rising risingchannle parallelchannel eurusd
The Dollar Index is back near support after a failed rally that we saw in August.
The support zone includes the bottom of a rising channel, MA line and a structure zone (previously resistance, now potential support)

On Thursday we will have the ECB meeting and the U.S CPI data - Two events that can (and probably will) impact the Dollar.

The bearish scenario shows potential to reach 93
The bullish scenario shows potential to reach back to the top of the channel

What do you think?
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.