**Monthly Chart**
Last month's candle closed as bullish but within the range of the previous monthly candle. This month (Feb 2024) started moving higher and then retraced to the liquidity pool of Nov 2023 and started moving lower.
**Weekly Chart**
Last week's candle closed bearish after the previous week's key reversal. This pattern provides a strong direction for DXY to move lower, especially when it is at a weekly high and the liquidity pool. Therefore, the directional bias for DXY based on the weekly timeframe is bearish.
**Daily Chart**
For the last week, DXY was moving lower. There might be a short swing higher next week but the long-term directional bias is bearish.
Note: I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD.
Last month's candle closed as bullish but within the range of the previous monthly candle. This month (Feb 2024) started moving higher and then retraced to the liquidity pool of Nov 2023 and started moving lower.
**Weekly Chart**
Last week's candle closed bearish after the previous week's key reversal. This pattern provides a strong direction for DXY to move lower, especially when it is at a weekly high and the liquidity pool. Therefore, the directional bias for DXY based on the weekly timeframe is bearish.
**Daily Chart**
For the last week, DXY was moving lower. There might be a short swing higher next week but the long-term directional bias is bearish.
Note: I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD.
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