Dollar Index (#DXY): Waiting For Breakout
Dollar Index is trading in a minor bearish trend on a daily.
The market is steadily falling within a falling parallel channel.
The Index is currently approaching a solid horizontal support.
I believe that the fall will resume after its breakout.
To confirm that, we will need a daily candle close below 101.9.
A bearish continuation will be expected to 101.0 support then.
For Additional confirmation use: the Momentum Indicator
Dollar Index is trading in a minor bearish trend on a daily.
The market is steadily falling within a falling parallel channel.
The Index is currently approaching a solid horizontal support.
I believe that the fall will resume after its breakout.
To confirm that, we will need a daily candle close below 101.9.
A bearish continuation will be expected to 101.0 support then.
For Additional confirmation use: the Momentum Indicator
Attached Image (click to enlarge)
Trade what you see not what you think!