The USD index is in a bigger timeframe descending channel, with a possible head and shoulder pattern, neckline broken, currently printing the Right Shoulder, with an ascending channel, there is a juicy untested Supply zone above. I see also a repetitive behavior with how this instrument forms symmetrical triangles at its lows.
NB: Technicals tend to influence your market sentiments and make you see what you want to see, on the other hand, you have the fundamentals with actual economic numbers, actual COVID-19 disasters which affects the future prospects of any instrument, so for me, the fundamentals will lead and technicals shall follow, therefore technically we should short, fundamentally stay out of the market ( haha hahaha). Luther said it best If this world were mine the Channel will play out as depicted, Happy Trading
NB: Technicals tend to influence your market sentiments and make you see what you want to see, on the other hand, you have the fundamentals with actual economic numbers, actual COVID-19 disasters which affects the future prospects of any instrument, so for me, the fundamentals will lead and technicals shall follow, therefore technically we should short, fundamentally stay out of the market ( haha hahaha). Luther said it best If this world were mine the Channel will play out as depicted, Happy Trading