The double bottom pattern of the DXY US Dollar Index is still unfolding. Looking at the chart, both technical and psychological expectations are leaning towards the bulls.
Most importantly, yesterday's performance — the closing price broke through the neckline, and the 50 EMA was also regained. What do these two signals indicate? They suggest that the bullish momentum is shifting. From a breakout perspective, this is a sign that buyers are starting to take control.
A double bottom breakout often signals an impending strong upward move. Moving forward, attention should be paid to whether trading volume can support this, and whether the US Dollar Index can continue to hold this key level. Currently, the buyers' intentions are very clear.
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The double bottom pattern of the DXY US Dollar Index is still unfolding. Looking at the chart, both technical and psychological expectations are leaning towards the bulls.
Most importantly, yesterday's performance — the closing price broke through the neckline, and the 50 EMA was also regained. What do these two signals indicate? They suggest that the bullish momentum is shifting. From a breakout perspective, this is a sign that buyers are starting to take control.
A double bottom breakout often signals an impending strong upward move. Moving forward, attention should be paid to whether trading volume can support this, and whether the US Dollar Index can continue to hold this key level. Currently, the buyers' intentions are very clear.