DXY - "Breakdown" or "Fake out"?

Hey Traders!

Let's take a look at DXY index. Well with Dollar getting weaker crypto market is getting stronger but is is so / is it another fake out?

Well we see that currently DXY is showing weakness near support zone where it is on the edge to break that support zone. At the same time we see that RSI and BB are not yet outside the oversold zone which means we can go lower here but for how long?

Well we will get an answer to this most likely this week once we get the data about unemployment rates. This should decide either it will be a clean breakdown or fake out.

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Swallow Team 🔱


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