DXY: Drop After Breakout
Price was bouncing on a bullish trend line in an uptrend, but after approaching to the red resistance zone and getting rejected from it, it started to drop.
Currently, the ascending trend line is broken out to the downside and price is facing a downside pressure.
We should wait for the bearish 4H candle to be closed below the trend line, then if price breaks the yellow support level at 95.890 and closes a bearish candle below this level, I expect a drop on the US dollar index to 95.500
Currently, the ascending trend line is broken out to the downside and price is facing a downside pressure.
We should wait for the bearish 4H candle to be closed below the trend line, then if price breaks the yellow support level at 95.890 and closes a bearish candle below this level, I expect a drop on the US dollar index to 95.500
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