The expected formation of the double bottom pattern on the US Dollar Index (DXY) and the last week rally on USD Pairs USDCAD, USDCHF, and XAUUSD among others clearly indicates that the dollar is showing some signs of strength.
Since the outbreak of the COVID pandemic the Dollar has been weakening but since March 2021 there has been some slight improvement of the Dollar. The chart below shows the future of the DXY Dollar index in the coming months which is being signified by the expected formation of the double bottom pattern as witnessed in the weekly and monthly chart timeframes.
US DOLLAR INDEX (DXY)
FUTURE EXPECTED SCENARIO ON US DOLLAR
No comments:
Post a Comment