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

The dollar index is showing an upward trend today and is within a descending channel on the H4 chart. The MACD indicator is in the oversold zone and is not giving any signals, while the MA arrow is pointing downwards. In this situation, there is a presumption that sales seem more probable, despite a possible corrective movement towards the 98.95 level, after which a new decline may begin. Then, it will be possible to open trades down to the 98.06 mark, from which a rebound occurred. If it breaks through, it will go even lower.