FX.co ★ Technical Analysis of Intraday Price Movement of United States Dollar Index, Tuesday February 27, 2024.

It appears on the 4-hour chart that the United States Dollar index is under pressure because it is dominated by Sellers, which can be seen from the price movement which is moving within the Bearish Pitchfork channel and the appearance of the Bearish 123 pattern which is followed by several Bearish Ross Hooks and the #USDX price movement is now below the WMA 30 Shift 2 which also has a downward slope, so based on these facts, the Greenback in the near future, as long as there is no stronger upward correction that penetrates above the 103.98 level, will depreciate down to try to test and breaks the 103.40 level and if the momentum and volatility are sufficient to support it then level 102.87 will be the next target to be reached.

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