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Market Insights

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Bears Could Be Targeting the U.S. Dollar Again. Check Out Today’s Technical Analysis

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The U.S. Dollar has been stabilizing all year, but now the bears may be returning to their old hunting ground.

Several features have appeared on the greenback’s chart, and none of them are bullish .

First, consider the rising trendline running from the low of January 6 through April 29. Notice how DXY broke under it on May 7 and then…

For more, please click here to view the related idea and chart analysis on TradingView.

U.S. dollar index, daily chart with key patterns, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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