FX.co ★ Technical Analysis of Intraday Price Movements of United States Dollar Currency Index, Monday, December 12 2022.

With the formation of a Bullish Pitchfork channel on the 4-hour chart of the United States USD Index, currently #USDX will try to go to the middle line of the Pitchfork channel or the 105.77 level. If successful, the next level to be tested is the 106.67 area if the momentum and volatility are sufficiently supportive. However, if on its way to the target level previously described, USDX suddenly reverses downwards again, especially breaking below the 104.43 level, then the bull scenario described earlier will automatically become invalid.

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