easyMarkets DXY Daily - Quick Technical Overview
Looking at the recent technical picture of the US Dollar index, we can see that from around the beginning of March, the index is trading within a falling wedge pattern. According to the Technical Analysis (TA) rules, such patterns tend to be bullish indications. However, in order to get comfortable with that idea, a break of the upper side of that formation would be needed. If that happens, more buyers could join in and possibly push DXY towards the 50-, 100-, or even the 200-day EMA.
That said, as long as the upper side of the falling wedge remains intact, the trend could remain to the downside.
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That said, as long as the upper side of the falling wedge remains intact, the trend could remain to the downside.
Disclaimer:
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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