DXY Potential Upsides

8 lug 2023

Hey Traders, As we enter the upcoming week, our attention is focused on DXY, as it presents a potential buying opportunity within the 102.150 zone. Previously, DXY had been trading in a downtrend, but it successfully broke out of this pattern. Currently, DXY appears to be approaching the retrace area, signaling a potential second retracement from the 102.150 support and resistance zone. I strongly recommend regularly monitoring DXY, not only before each trading week but ideally on a daily basis. This practice will enable you to trade with greater professionalism when dealing with USD pairs, allowing you to identify their direction and potentially uncover correlations between USD, equities, cryptocurrencies, and indices.
Trade safe, Joe.