Above is the 4-hour chart of US Dollar Index (DXY). The chart doesn't look too good. It looks like the index would be undergoing a slump in short time.
It probably follows the purple Pitchfork when falling, and together with the trend-lines, we can expect a support at around 75.3 given by the green up-trend line.
For the upside, obviously if the Pitchfork breaks, then the next resistant level will be given by the orange line, which has been acting well pretty well as critical level prediction tool.
No comments:
Post a Comment