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The US Dollar Index, also known as DXY, is used by traders seeking a measure of the value of USD against a basket of currencies used by US trade partners. The index will rise if the Dollar strengthens against these currencies and will fall if the Dollar weakens against these currencies. Plan your technical analysis of the US Dollar Index by tracking its price in the chart and keep up with the latest market movements with news, advice pieces, and the dollar index forecast.
The US Dollar Index $DXY continues its run of weakness as it pulls back from recent highs. The extremes in bullish sentiment suggest the dollar needed to cool so the slide isn’t surprising. Here’s a look at possible coming moves. https://www.dailyfx.com/forex/technical/home/analysis/us_dollar_index/2022/05/23/USD-Technical-Analysis-DXY-Outlook-in-the-Days-Ahead-PRtech.html
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
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