DXY Buy opportunity approaching at the bottom of this Channel.

7月17日

The U.S. Dollar Index (DXY) has been trading within a Channel Down pattern since the May 01 High, which is a technical Bearish Leg inside the long-term Channel Up structure. The price is already very close to the bottom of the Channel Down and with the previous Bearish Leg completing a -2.36% decline, we believe this is the right time to buy again on the short-term.

The last mini-rally completed a +2.14% rise so, expecting a similar development, we will target 105.800 (top of the Channel Up on a +2.14% Bullish Leg).

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