Highly compelling opportunity to enter a short position on the EURUSD currency pair while anticipating a bullish breakout in the U.S. Dollar Index (DXY). Analyzing the technical and fundamental factors at play, we can identify the potential for a profitable trade setup.
The pair has been forming lower highs and lower lows, indicating a downtrend. Additionally, the price has recently broken below key support levels.
Simultaneously, the U.S. Dollar Index (DXY), is showing promising signs of an impending bullish breakout. Fundamental factors is bolstering the value of the U.S. dollar. The DXY have been consolidating within a range and forming a bullish ascending triangle.
The pair has been forming lower highs and lower lows, indicating a downtrend. Additionally, the price has recently broken below key support levels.
Simultaneously, the U.S. Dollar Index (DXY), is showing promising signs of an impending bullish breakout. Fundamental factors is bolstering the value of the U.S. dollar. The DXY have been consolidating within a range and forming a bullish ascending triangle.