DXY looks set to close the gap with bullish speculators
Matt Simpson January 21, 2022 4:18 AM
Despite the US dollar index (DXY) retracing over the past few weeks, large speculators increased their net-long exposure. We think prices could now rally.
In today’s video we look at the weekly chart of the US dollar index (DXY) to assess the larger picture, and compare it to market positioning. As traders have increased net-long exposure it could mean one of two thing; bulls are ahead of prices and prices need to rise, or they are on the wrong side of the market and could be forced to close out their positions as prices fall. We then finish on the daily chart to fine tune the analysis and bias as we head into next week.Read our guide on the US Dollar Index (DXY)
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