TradeCentral_IN

Dollar Index (DXY) done with the upmove now?

Short
TVC:DXY   U.S. Dollar Index
I posted this charted earlier when it hit the red arrow at the upper channel and said it might be the top. Apparently it wasn't but I maintained my view that even if this (red arrow) isn't the top, it should eventually go down after hitting the upper channel. Looks like we are at that stage now (blue arrow). It may break above the channel but I am biased to the my view that it would reverse after hitting this new high at the blue arrow.
Comment:
The original post didn't turn out to be top but now DXY seem to be reversing and have come below 96. It has also broken down below a triangle pattern as shown below. Could this is be the decline we have been waiting for?


Be a Better Trader!

Disclaimer: Do your own due diligence for buy/sell decisions.
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.