The US Dollar has been in a bearish trend downwards ever since the start of 2017 markets
Now it has finally broken the resistance trendline of this channel.
Quite notably, the 4h candle circled broke below 100.24, an area of short term resistance that is easily seen on the 1h chart.
However, price closed above it, indicating that the downtrend is finally over and bulls are ready to take control.
If you see a bearish setup on xxxUSD pairs, and bullish setups on USDxxx pairs, use this DXY chart as support towards confluence.
Now it has finally broken the resistance trendline of this channel.
Quite notably, the 4h candle circled broke below 100.24, an area of short term resistance that is easily seen on the 1h chart.
However, price closed above it, indicating that the downtrend is finally over and bulls are ready to take control.
If you see a bearish setup on xxxUSD pairs, and bullish setups on USDxxx pairs, use this DXY chart as support towards confluence.
