November 1, 2024
I break down the U.S. Dollar Index ($DXY) and its recent movements on the weekly chart, focusing on key levels like the 200-week and 50-week moving averages. I discuss how $DXY has reacted to these levels, highlighting the June sell-off and subsequent rallies. While the 200-week moving average is acting as support, the declining 50-week moving average presents a potential obstacle for bullish momentum. Watch as I explain why the current setup leaves the $DXY in a no-trade zone for now, and what could signal a future breakout.
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