Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
USD Index Technical Framework to Watch, Big Resistance Ahead

USD Index Technical Framework to Watch, Big Resistance Ahead

What's on this page

The other day the US Dollar Index (DXY) trigged the inverse head-and-shoulders pattern while also trading above the March trend-line. This has the upside intact, although momentum is a bit of a concern. That could change, then again it might not. In any event, there is an upward channel developing off the Jan low that traders can use as a guide. Stay above the lower parallel and the trend remains near-term neutral to bullish, but break below and the broader downtrend since March may resume. Big resistance lies ahead at the Sep low of 91.74, a level that will of course be of interest should we soon see it. How price action plays out there could go a long way towards how the medium-term trend plays out.

USD Forecast
USD Forecast
Recommended by Paul Robinson
Check out the Q1 USD Forecast
Get My Guide

DXY Daily Chart (Sep low ahead)

DXY daily chart

DXY 4-hr Chart (out of inverse H&S, channel as a guide)

DXY 4hr chart

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.