Actually as EURUSD has the highest weight in DXY, obviously the index is the inverse of EURUSD. So is the analysis, which I already wrote in my EURUSD post - pls see link below.
However in the USD Index I see two more warning signals which may indicate a pull back is due:
- Daily Heikin Ashi is bearish here (in EURUSD it is just doji)
- The nice and obvious 4H uptrendline is already penetrated (in EURUSD price still below its downtrend)
Key levels for swing short or long positions TP are: 99,20 and 98,80
However in the USD Index I see two more warning signals which may indicate a pull back is due:
- Daily Heikin Ashi is bearish here (in EURUSD it is just doji)
- The nice and obvious 4H uptrendline is already penetrated (in EURUSD price still below its downtrend)
Key levels for swing short or long positions TP are: 99,20 and 98,80
