I had no intention of publishing this analysis yesterday as I thought Dollar Index (DXY) would continue its consolidation mode for several days. However, when I saw 4-hour chart close above the drawn ascending triangle, I had to publish this analysis.
For the past several days, I've been watching this Index as this is one of the keys on trading Dollar pairs. Understanding the behavior of the Index is one of a must for Forex traders -- even commodity traders. Close above this ascending triangle may also become a false breakout. So, watch out!
For the past several days, I've been watching this Index as this is one of the keys on trading Dollar pairs. Understanding the behavior of the Index is one of a must for Forex traders -- even commodity traders. Close above this ascending triangle may also become a false breakout. So, watch out!