DXY recovers some ground lost after Monday’s pullback to 93.50. The Fibo level at 94.20 emerges on the short-term horizon. The sell-off in DXY has reached levels last seen in June 2018 near 93.50 at the beginning of the week, leaving the bearish view on the index intact in the near-term. The current recovery carries the potential to extend to the Fibo level at 94.20, as the index pushes higehr from recent oversold levels. In fact, further downside is increasingly likely in the current atmosphere, allowing for a probable move and test of the June 2018 lows near 93.20. Further south aligns the May 2018 low at 91.80. The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 98.09. DXY weekly 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 UK: CBI Distributive Trade Survey – Realized jumps to 4% in July vs. -25% expected FX Street 3 years DXY recovers some ground lost after Monday’s pullback to 93.50. The Fibo level at 94.20 emerges on the short-term horizon. The sell-off in DXY has reached levels last seen in June 2018 near 93.50 at the beginning of the week, leaving the bearish view on the index intact in the near-term. The current recovery carries the potential to extend to the Fibo level at 94.20, as the index pushes higehr from recent oversold levels. In fact, further downside is increasingly likely in the current atmosphere, allowing for a probable move and test of the June 2018 lows near 93.20. Further… 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.
