US DOLLAR INDEX(DXY): Waiting For Breakout 💵
The Dollar Index is experiencing a slight downward trend, with the price consolidating in a descending triangle pattern.
The neckline of this pattern is between 105.09 and 104.88, which has been a major horizontal structure.
If the price breaks below this level and closes on a 4-hour chart, it is likely that the market will continue to decline. The first target for this drop is 104.50, followed by a potential support level at 104.00.
The neckline of this pattern is between 105.09 and 104.88, which has been a major horizontal structure.
If the price breaks below this level and closes on a 4-hour chart, it is likely that the market will continue to decline. The first target for this drop is 104.50, followed by a potential support level at 104.00.
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