The U.S. Dollar Index is reversing at the top of October's Channel Down on a technical outlook that is about to turn neutral (RSI = 56.064, MACD = 0.260, ADX = 25.484). As long as the price stays inside the Channel Down, we are bearish, aiming at the 1.1 Fibonacci extension (TP = 105.225). If the price crosses over the top of the Channel Down, while the 1D MACD forms a Bullish Cross, we will buy, aiming at the R1 level (TP = 108.000).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.