FX.co ★ bryana.reichert | U.S. Dollar Index (USDX) in Forex Trading

Analysis and Forecast for Trading Instrument #USDX Based on Technical Analysis Greetings to all! The trading instrument, the US Dollar Index, has been trading above the support level of 105 for some time, and it seemed that the price could bounce off this level and head back north to update its highs. However, today it can be definitively stated that the #USDX has broken and firmly established below the support level of 105. This means that the path to further price decline is now fully open. Overall, based on the Fibonacci grid, which fits perfectly on the chart as the Dollar Index has almost perfectly tested the 38th level and is now decreasing nicely, we can expect to eventually reach the level of 103.20, which is the 161st Fibonacci level. If we are lucky, we may even be able to open short positions, for example, around the resistance level at the same mark of 105, which can now act as a good mirror level.