FX.co ★ bryana.reichert | U.S. Dollar Index (USDX) in Forex Trading

Analysis and forecast for trading instrument #USDX based on technical analysis Good day to everyone! Last week, the trading instrument US Dollar Index experienced a significant decline. However, on the four-hour timeframe, we can see that the price failed to break the uptrend and bounced off a strong support level at 105. Therefore, there is a possibility that this decline was just a correction within the overall uptrend, and now the trading instrument #USDX will likely return to the upward trend and potentially reach a new high around 106.50 in the near future. Potential entry points for long positions can be considered from the same support level at 105. Additionally, there is an interesting level at 105.39, which was the low of the week before last. If the price closes above this level, it could act as a new support level, providing opportunities for long positions without waiting for a deeper pullback.