DXY extends the bounce off lows to the 93.70 region on Monday. Further recovery is forecasted to meet resistance around 94.00. DXY is adding to Friday’s recovery and moves further north of the 93.00 mark after bottoming out near 92.50 last Thursday. If the buying impetus does not subside, then the index is seen re-visiting the so far monthly peaks around 94.00 (August 3), where it is expected to meet strong resistance. The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 97.90. Against this backdrop, a breakdown of 92.52 should open the door to a deeper pullback to the Fibo level (of the 2017-2018 drop) at 91.92 ahead of the May 2018 low at 91.80. DXY daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF climbs higher toward 0.9200 FX Street 2 years DXY extends the bounce off lows to the 93.70 region on Monday. Further recovery is forecasted to meet resistance around 94.00. DXY is adding to Friday’s recovery and moves further north of the 93.00 mark after bottoming out near 92.50 last Thursday. If the buying impetus does not subside, then the index is seen re-visiting the so far monthly peaks around 94.00 (August 3), where it is expected to meet strong resistance. The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 97.90. Against this backdrop, a breakdown of 92.52 should open… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
