Get started
AlfonsoMoreno

Expecting a bullish correction on Dollar Index DXY

U.S. Dollar Currency Index (ICEUS:DXY)  
AlfonsoMoreno  
ICEUS:DXY   U.S. Dollar Currency Index
Trend Analysis Support and Resistance Supply and Demand dollar dollarindex Dollar Index Futures DX1! DXY dxylong dxyanalysis usdollarlong
17
1
trendanalysis supportandresistance supplyanddemand dollar dollarindex dx1! dxy dxylong dxyanalysis usdollarlong
Expecting a bullish correction on Dollar Index DXY after such a strong sell-off. Weekly supply level located much higher where we will be able to think of short positions on the Dollar Index DXY. The EURUSD forex cross pair forecast and analysis is very similar but we are expecting a bearish correction instead. EURUSD and Dollar Index DXY are inversely correlated.

Dollar Index forecast and prediction
Long positions will be possible on the way up to weekly supply imbalance located around 97 price level for those forex traders trading short-term and intraday forex trading strategies. There is a lot of room for the Dollar Index to keep on rallying. There is nothing to prevent the Dollar Index from the bullish correction if it continues to make higher highs.
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.