From TradingView · · 1m
Dollar index short trade setup after trendline break
A trader spots a bearish signal on the US Dollar Index after it breaks and retests a key trendline.
In brief
A trader spots a bearish signal on the US Dollar Index after it breaks and retests a key trendline. The DXY broke below its trendline and is now retesting it, which traders often interpret as a signal to short. Originally reported by TradingView.
Dollar index short position
Trader Effective_44 is calling for a short trade on the US Dollar Index (DXY). The setup is based on a technical pattern that just formed.
Trendline breakout confirmed
The DXY broke below a key trendline, signaling potential weakness. This break is the first part of the bearish setup.
“Dollar index shorts expected as it broke out of trendline”
Retest phase underway
After breaking down, the index is now retesting the same trendline from below. This retest is expected to fail, leading to further drops.
“now retesting the trendline to drop”
Daily updates on Telegram
The trader offers daily trade updates on gold with video analysis through a Telegram channel called TradingEmpireTraders.
“Follow My Daily Trade on Telegram and get updates on daily on GOLD with Videos”
Not financial advice
TradingView includes a standard disclaimer that this analysis doesn't constitute financial, investment, or trading advice.
What to remember
The DXY broke below its trendline and is now retesting it, which traders often interpret as a signal to short.
