The US Dollar Index (DXY) is under heavy bearish pressure as the market prints its worst weekly decline since mid-June 2019. This Friday, the negative sentiment on the Greenback sent the Index down to the critical 200-day simple moving average. DXY weekly chart The US Dollar Index (DXY) had its worst weekly decline since June 2019. However, the Index is still trading above its main SMAs (simple moving averages), suggesting that the bull trend is still in place for now. DXY daily chart The drop in the Greenback this week saw the Index breaking below both the 50 and 100 SMAs. Now it is the 200 SMA which is being put to the test. Next week, it will be interesting to see how the market reacts around this important level. DXY four-hour chart DXY is under heavy bearish pressure below its main SMAs as the market broke below the 97.60 support level. Given the strong bearish momentum, it can be expected that the market can drop to the 97.20 level. Further down lies the 96.70 support. Additional key levels 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 Binance increases BTC futures leverage to 125x FX Street 3 years The US Dollar Index (DXY) is under heavy bearish pressure as the market prints its worst weekly decline since mid-June 2019. This Friday, the negative sentiment on the Greenback sent the Index down to the critical 200-day simple moving average. DXY weekly chart The US Dollar Index (DXY) had its worst weekly decline since June 2019. However, the Index is still trading above its main SMAs (simple moving averages), suggesting that the bull trend is still in place for now. DXY daily chart The drop in the Greenback this week saw the Index breaking… 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.
