Forex (SPOT)

Dollar Index Analysis | Weekly-Daily-Intraday

Today we look at Dollar Index ($DXY) on different time frames (Weekly, Daily and Intraday Chart) because the macroeconomic environment is very serious right now, and the Dollar Index is a very important driver for us. Having said that, let’s start our analysis from the large time frame to understand where we are now.

On the weekly Chart we do not have a clear and defined long-term trend, but in the short term, after reaching the 115.40 area and as we said in our latest analysis, the bearish leg formed at the end of 2022 could develop a bearish impulsive structure (such as shown on the weekly chart), at least until the Price Action breaks the resistance area around 115.40. At the same time, after such a steep and fast bearish leg, a technical rebound in the 110.00 area should be logical.

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