financialfx

DXY

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DXY - is also known as DOLLAR INDEX. DXY is used to measure strength of USD across major pairs like EURUSD and USDJPY. Looking at this chart, it is clear that DXY is trading in a downtrend channel and it is bearish. DXY IS currently at the top of the trend line, reacting to 3 different things. 1) Trendline 2) 200EMA 3) zone. Also, the last daily candle closed as an hanging man and the daily close before that closed this same way. We are expecting USD to be bearish this coming week.

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