• Vasily Trader

DXY (Dollar Index): Important Decision Ahead

Many dollar pairs are standing on key levels today.

With a coming CPI report, the market participants

are waiting for the trigger to either push the greenback higher

or to finally start shorting it.

DXY is testing a historical resistance at the moment.

Bearish movement will initiate only after a bearish breakout of a rising channel on 1H.

That will be a decent confirmation.

For bullish scenario, consider a daily candle close above the underlined daily resistance

as the confirmation for a further bullish continuation.