DXY bearish momentum to be continued
**Monthly Chart**
Moving down to the monthly chart we can see that the index was in a range last year. However, the current momentum is lower. The price closed lower last month at 101.37 level. For the opening of this month's candle, the price started to move higher after bouncing from equal lows or strong monthly demand zone. I still believe that the price will move lower after breaking equal lows.
**Note:** I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD.
**Weekly Chart**
Weekly Candle closed relatively higher and currently testing the Manipulation candle - 11 Dec 2023 week.
I still believe that the price will come at least to test the supply zone around 104 this week before heading lower. The Equal lows are the next target.
**Daily Chart**
On daily chart, two gaps need to be filled which is an additional confirmation that the price might move lower after testing the weekly and daily MC at around 104 level.
Moving down to the monthly chart we can see that the index was in a range last year. However, the current momentum is lower. The price closed lower last month at 101.37 level. For the opening of this month's candle, the price started to move higher after bouncing from equal lows or strong monthly demand zone. I still believe that the price will move lower after breaking equal lows.
**Note:** I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD.
**Weekly Chart**
Weekly Candle closed relatively higher and currently testing the Manipulation candle - 11 Dec 2023 week.
I still believe that the price will come at least to test the supply zone around 104 this week before heading lower. The Equal lows are the next target.
**Daily Chart**
On daily chart, two gaps need to be filled which is an additional confirmation that the price might move lower after testing the weekly and daily MC at around 104 level.
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