October 11, 2024
I break down the U.S. Dollar Index ($DXY) and its recent movements on the weekly chart, focusing on key levels like the 200-week and 50-week moving averages. I discuss how $DXY has reacted to these levels, highlighting the June sell-off and subsequent rallies. While the 200-week moving average is acting as support, the declining 50-week moving average presents a potential obstacle for bullish momentum. Watch as I explain why the current setup leaves the $DXY in a no-trade zone for now, and what could signal a future breakout.
