I have been monitoring the movements of the U.S. Dollar Index (DXY) closely and it's clear that the bearish trend is continuing. The recent price action shows that DXY found support at a major level of 101. However, I believe that this is only a temporary support level and the correction could continue to 103 before resuming its downward trajectory. From a fundamental standpoint, the United States is currently experiencing contracting economic growth which could lead to a decrease in demand for the U.S. dollar. This is likely to contribute to the ongoing bearish trend in DXY.
Target:103
"Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"
DXY
Target:103
"Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"
DXY
