For some time now the dollar has been crashing. Now, if you look at the
DXY
on your monthly chart from the 20th century to the 21st century. Price has shown clear signs its been in a downtrend channel for long time now. since recently around 2016 price finally tapped the channel once again, and now i believe price is looking to hit 80$ or even lower since my consolidation area has been broken.
ADDED INFO FOR NOVICE/CURIOUS TRADERS
I do not trade the DXY solely i just happen to use it as an indicator for the USD pairs that i trade. The movement on the DXY can have significant effects on currency pairs.
DXY
on your monthly chart from the 20th century to the 21st century. Price has shown clear signs its been in a downtrend channel for long time now. since recently around 2016 price finally tapped the channel once again, and now i believe price is looking to hit 80$ or even lower since my consolidation area has been broken. ADDED INFO FOR NOVICE/CURIOUS TRADERS
I do not trade the DXY solely i just happen to use it as an indicator for the USD pairs that i trade. The movement on the DXY can have significant effects on currency pairs.
