DXY: Rising Channel Breakout Short

21 feb

The DXY's decisive break and subsequent close below a robust upward trend line, as observed on the 4-hour chart, underscores the growing influence of sellers, hinting at a possible alteration in market dynamics. Anticipated continuation of the pair's descent could see it targeting the next significant support level at 103.00. Traders might find value in entering positions upon a retest of the breached trend line, potentially capitalizing on further downside momentum.