Fxprotrader
Short

Dollar Index Breakout Open Doors To Shorts

TVC:DXY   US Dollar Currency Index
I never trade DXY             but is always a good idea to analyze it to have a better view on how it's going to affect the usd pairs. Looking at the 4h chart we may see that price is testing the lower trenline of a rising wedge pattern and is about to break below it. In this case we should wait for a sell setup to complete before selling. There is also one more scenario that it might bounce from the lower trendline , moving up for another wave and then drop and break below ( blue arrows)

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