- DXY looks to have broken its medium/long term ascending trend-line support
- Price moved below this line earlier today, and has now moved back up to retest it, now as resistance
- If price were to hold below this line successfully we may see a further drop to the 96.15 level
- HOWEVER if price were to break back above this line, a resumption of the bullish trend may continue
- The 96.15 level has acted as previous strong structure support/resistance, therefore we would be looking for a break below this level to confirm further bearish action
- Only if price were to maintain below this trend-line would we justify entering a short position
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- Price moved below this line earlier today, and has now moved back up to retest it, now as resistance
- If price were to hold below this line successfully we may see a further drop to the 96.15 level
- HOWEVER if price were to break back above this line, a resumption of the bullish trend may continue
- The 96.15 level has acted as previous strong structure support/resistance, therefore we would be looking for a break below this level to confirm further bearish action
- Only if price were to maintain below this trend-line would we justify entering a short position
THIS IS NOT TRADE ADVICE NOR A TRADE CALL