Global_Markets_Analyst

Dollar index looks to weaken

Short
INDEX:DXY   US DOLLAR CURRENCY INDEX
DXY 4HR timeframe we have a shooting star formation after a 50% retracement, which marked the 2nd lower high in the current downtrend. We also have MA's about to crossover, with price approaching a trendline which I believe will be broken and retested before heading down to the -0.27 fib extension to create the second lower low.

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.