{"id":2799,"date":"2021-01-22T08:15:01","date_gmt":"2021-01-22T08:15:01","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=2799"},"modified":"2021-01-22T16:23:44","modified_gmt":"2021-01-22T16:23:44","slug":"us-dollar-index-technical-analysis-down-but-not-out","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/us-dollar-index-technical-analysis-down-but-not-out\/","title":{"rendered":"US Dollar Index Technical Analysis &#8211; Down But Not Out"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2799\" class=\"elementor elementor-2799\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-79d6721 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79d6721\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8f1b1bd\" data-id=\"8f1b1bd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-01b98be elementor-widget elementor-widget-text-editor\" data-id=\"01b98be\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"https:\/\/bit.ly\/37m9dMU\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> is once coming under pressure from all directions this week, as the greenback falls to multi-lows against the <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">British pound<\/a>, <a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\" rel=\"noopener\">Japanese yen<\/a>, and a selection of commodity-related currencies.<\/p><p>Intraday traders will also have noticed that the short-term trend for the US dollar index turned bearish once again yesterday, after the price slipped below the 200-period moving average on the four-hour time frame.<\/p><p>Officially, the short-term trend for the US dollar index turned bullish on the January 15<sup>th<\/sup> for the first-time since November 5<sup>th<\/sup> last year, meaning that bulls were only able to hold onto the new short-term trend for five days.<\/p><p>Traders and investors were becoming more bullish towards the US dollar ahead of Joe Biden\u2019s inauguration this week, however, US Treasury Secretary Janet Yellen\u2019s hawkish tone towards policy stimulus caused the recent recovery to reverse course.<\/p><p>Yellen also failed to mentioned US dollar weakness and clearly stated the Biden administrations intention for the foreign exchange market to determine the rate of exchange for the US dollar currency.<\/p><p>Going forward, the US dollar index has a key test today due to the release of the preliminary US manufacturing PMI for the month of January. The US dollar could start to gain strength if the headline number outperformers and inflationary pressures show up inside the report.<\/p><p>If the manufacturing PMI comes in as expected and inflationary pressures are muted, then I suspect that the overall down trend in the US dollar index will continue, and the US stimulus narrative will continue to dominate.<\/p><p>Looking at market sentiment, the ActivTrader Market Sentiment tool shows that some 60 percent of traders are bullish towards the US dollar index. This is interested because the trend has been lower and traders are expecting the greenback to start to strengthen, despite the negative bias over recent days.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-73e72a9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"73e72a9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e5d0e8a\" data-id=\"e5d0e8a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-42fa1ba elementor-widget elementor-widget-image\" data-id=\"42fa1ba\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"301\" height=\"107\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/chart-2-9.png\" class=\"attachment-large size-large wp-image-2802\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a774a76 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a774a76\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a71432d\" data-id=\"a71432d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77b7eae elementor-widget elementor-widget-text-editor\" data-id=\"77b7eae\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>US Dollar Index Short-Term Technical Analysis<\/strong><\/p><p>According to the four-hour time frame a bearish head and shoulders pattern has formed and is offering a warning sign that a large drop might be about to take place if the 89.90 support level is broken.<\/p><p>Technical analysis highlights that the US dollar index could fall towards the 89.00 level if the bearish pattern is activated. Bulls need to move the price above the 90.90 level to invalidate the bearish price pattern. If the pattern is invalidated then a counter-rally towards the 92.00 level should be expected.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ea1cf0c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ea1cf0c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-66d0305\" data-id=\"66d0305\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3960996 elementor-widget elementor-widget-image\" data-id=\"3960996\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"299\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/USDIndMar21-4h-5.png\" class=\"attachment-large size-large wp-image-2803\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-294b48f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"294b48f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7094156\" data-id=\"7094156\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d793df1 elementor-widget elementor-widget-text-editor\" data-id=\"d793df1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Source by ActivTrader.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ebb08d1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ebb08d1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a79adff\" data-id=\"a79adff\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3a18e2e elementor-widget elementor-widget-text-editor\" data-id=\"3a18e2e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>US Dollar Index Medium-Term Technical Analysis<\/strong><\/p><p>Looking at the daily time chart, the US dollar index remains trapped inside large falling price channel. These patterns are typically considered to be bullish reversal patterns.<\/p><p>The bottom of the price channel is found around the 89.40 level, while the top of the price channel is located around the 92.00 level.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6257f9e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6257f9e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-325d3d1\" data-id=\"325d3d1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-53b2844 elementor-widget elementor-widget-image\" data-id=\"53b2844\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"300\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/USDIndMar21-1d.png\" class=\"attachment-large size-large wp-image-2804\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b2801d2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b2801d2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6b87e9d\" data-id=\"6b87e9d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9c53b28 elementor-widget elementor-widget-text-editor\" data-id=\"9c53b28\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Source by ActivTrader.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9d9fe08 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9d9fe08\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2938b86\" data-id=\"2938b86\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8897687 elementor-widget elementor-widget-text-editor\" data-id=\"8897687\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Traders that are more conservative may wait for a confirmed breakout from the price channel to avoid getting stopped due to choppy trading conditions. The falling wedge pattern has been developing for months and is getting narrower and narrower.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The US dollar index is once coming under pressure from all directions this week, as the greenback falls to multi-lows against the British pound, Japanese yen, and a selection of commodity-related currencies. Intraday traders will also have noticed that the short-term trend for the US dollar index turned bearish once again yesterday, after the price [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":2800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,9],"tags":[20,164,40,22],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US Dollar Index Technical Analysis - Down But Not Out - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/us-dollar-index-technical-analysis-down-but-not-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Dollar Index Technical Analysis - Down But Not Out\" \/>\n<meta property=\"og:description\" content=\"The US dollar index is once coming under pressure from all directions this week, as the greenback falls to multi-lows against the British pound, Japanese yen, and a selection of commodity-related currencies. Intraday traders will also have noticed that the short-term trend for the US dollar index turned bearish once again yesterday, after the price [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/us-dollar-index-technical-analysis-down-but-not-out\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-22T08:15:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-22T16:23:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/giorgio-trovato-oxwmpNe_7Kw-unsplash-1-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"632\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/us-dollar-index-technical-analysis-down-but-not-out\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/us-dollar-index-technical-analysis-down-but-not-out\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"US Dollar Index Technical Analysis &#8211; 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