Monday 14th August 2023: Technical Outlook and Review
The DXY chart is currently exhibiting a bullish momentum driven by the price breaking above a descending resistance line, indicating a potential upward trend. With this bullish sentiment, there is a possibility that the price could continue its upward movement towards the 1st resistance level at 103.58.
Friday 11th August 2023: Technical Outlook and Review
The DXY chart currently demonstrates a bearish momentum, indicating a prevailing downward trend. Within this context, there's a potential for the price to sustain a bearish continuation towards the 1st support level at 102.31.
Thursday 10th Aug 2023: Technical Outlook and Review
The DXY chart is presently characterized by a neutral overall momentum, implying a lack of discernible directional bias. In light of this neutral stance, it is conceivable that the price may exhibit fluctuations within the range defined by the 1st resistance at 102.78 and the 1st support at 102.31.
Tuesday 8th Aug 2023: Technical Outlook and Review
The DXY (Dollar Index) chart is currently displaying a bearish overall momentum, suggesting a downward trend in the market. In light of this bearish sentiment, the price could potentially experience a bearish reaction upon reaching the first resistance level and subsequently drop towards the first support level.
Monday 7th Aug 2023: Technical Outlook and Review
The DXY (US Dollar Index) is currently demonstrating a bearish momentum on the chart, which is driven by its position below a major descending trend line, indicating a potential continuation of the bearish movement.
Friday 4th Aug 2023: Technical Outlook and Review
The DXY instrument is currently in a bearish trend, with a potential for a bearish continuation towards the 1st support level at 102.00. This support level serves as a pullback support and aligns with the 23.60% Fibonacci Retracement level.
Thursday 3rd Aug 2023: Technical Outlook and Review
The US dollar index (DXY) chart indicates a bullish momentum, suggesting a potential bullish continuation towards the 1st resistance level at 102.77 which is an overlap resistance and also coincides with the 78.60% Fibonacci retracement and the 100% Fibonacci projection levels, indicating Fibonacci confluence.
Wednesday 2nd Aug 2023: Technical Outlook and Review
The DXY financial instrument is currently demonstrating bullish momentum, suggesting a potential bullish continuation towards the first resistance level at 102.77.
Tuesday 1st Aug 2023: Technical Outlook and Review
The DXY is showing a bearish trend, with the possibility of a bearish reaction off the 1st resistance level at 102.00 that could lead the price to drop towards the 1st support level at 101.46. This resistance level is significant due to its role as an overlap resistance and its alignment with the 61.80% Fibonacci retracement and 78.60% Fibonacci projection levels, suggesting a Fibonacci confluence.
