US Dollar Index Probing the 200-Day Moving Average – Weekly Chart
USD Technical Analysis: DXY at Familiar Resistance Yet Again, Will it Hold?
In summation, the US dollar remains strong and will likely push further ahead although the path higher may be bumpy. Risk/reward suggests that dip-buying the USD against weaker counterparts remains the best way forward and, on the flip side, that short-selling the greenback may prove expensive.
Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.
— Written by Nick Cawley, Analyst
To contact Nick, email him at firstname.lastname@example.org
Follow Nick on Twitter @nickcawley1
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.