DXY Bearish continuation Short

U.S. Dollar Currency IndexTVC

Description

⋅ Feb 7, 2021 3:06 PM

Evening traders, a lot of options this week with some good set ups coming into play.

I think we're in for further downward movement for the DXY this week and so EU bullish momentum.

Lets wait to see how the market opens tonight and how we develop going into a new week.

Trend Analysis Chart Patterns

Comments

WicktatorFX

⋅ Feb 7, 2021 5:23 PM

This is great! I didn’t see it from this point of view. Always great to see another view! Thanks mate

ayukspencer

⋅ Feb 7, 2021 9:06 PM

is the DXY correlated to the USD?

JohnMlay

⋅ Feb 17, 2021 6:10 AM

@ayukspencer next level newbie😂

drpascale

⋅ Feb 7, 2021 3:11 PM

I am new,
So from this analysis, does it mean m in currency pairs with USD as quote pair, that the base pair will be in upward trend

PriceActionAnalyses

⋅ Feb 8, 2021 9:15 AM

I agree

WFFX

⋅ Feb 7, 2021 9:27 PM

DXY is the US Dollar index, it’s a view of the dollar across the board, weighted to 6 different currencies. So a good tool to confirm direction and trend. So if we see DXY in a bearish trend, likelihood is you’ll see USD weakness against all pairs and visa versa.

BethodLawrence

⋅ Feb 8, 2021 4:54 AM

@WFFX sure