DXY manages to regain some traction following +2-year lows. The Fibo level at 94.20 emerges as the next hurdle. The bearish bias in the dollar remains well and sound despite the ongoing rebound in DXY from levels last seen in May 2018 in the 93.20/15 band. The bounce is seen as corrective only and follows the oversold conditions of the index. If the bounce gains serious traction, then it should meet resistance at 94.20, where sits a Fibo level of the 2017-2018 drop. Looking at the broader scenario, however, further downside is increasingly likely, facing the next stop at 92.24 (low May 14 2018). The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 98.05. 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 China’s Xi: Will strive to achieve 2020 economic and social development goals FX Street 3 years DXY manages to regain some traction following +2-year lows. The Fibo level at 94.20 emerges as the next hurdle. The bearish bias in the dollar remains well and sound despite the ongoing rebound in DXY from levels last seen in May 2018 in the 93.20/15 band. The bounce is seen as corrective only and follows the oversold conditions of the index. If the bounce gains serious traction, then it should meet resistance at 94.20, where sits a Fibo level of the 2017-2018 drop. Looking at the broader scenario, however, further downside is increasingly likely, facing the next stop at 92.24… 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.
