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DXY Technical analysis
The daily chart of Dollar index has formed a cup and handle pattern.
Although, it’s a continuation pattern many analysts now use it to predict a trend reversal also.
It has also formed a handle by taking a retracement of 25%.
As per our analysis, we expect a major bullish move in the counter if the index can sustain above the value of 95.03.
On the contrary,if the index moves below the value 93(the lowest point of handle), the index can turn bearish.
Although, it’s a continuation pattern many analysts now use it to predict a trend reversal also.
It has also formed a handle by taking a retracement of 25%.
As per our analysis, we expect a major bullish move in the counter if the index can sustain above the value of 95.03.
On the contrary,if the index moves below the value 93(the lowest point of handle), the index can turn bearish.
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