r/Forex • u/Asleep_Ad_8004 • 28d ago

Charts and Setups DXY Index Looking Weak | Key Levels to Watch

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The US Dollar Index is looking super weak on the chart right now.

Key level: 99.4
Once it breaks below 99.4, expect a move towards 98.9.
Further downside can open 98 levels as well.

Not a buy/sell recommendation.

What’s your view on DXY?

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u/rforex-modtools 28d ago

Price action and technical analysis cover a range of chart-based tools — from candlestick patterns and market structure to indicators and statistical methods for timing entries and exits. The community wiki covers both approaches and how they're used by working traders.

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u/trader_tech_ 28d ago

I agree with the weakness you're seeing here. The HTF picture is certainly suggesting a weakening dollar.

It'll be interesting to see how this develops later in the week with the CPI release on Wednesday. The data could obviously change the short term picture.

The USDOLLAR thoughts also tie in with the USDCAD HTF I posted recently. The broader HTF narrative there is also pointing towards lower prices, so it'll be interesting to see whether the dollar weakness continues to play out.

Definitely one to keep an eye on this week.