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08 May 2026

๐Ÿ“‰ DOLLAR INDEX (DXY) UNDER PRESSURE ๐Ÿ“‰

The recent rally attempt on the Dollar Index is showing signs of weakness as price continues pulling back from the 98.25 resistance zone.

๐Ÿง  Current market structure suggests two possible scenarios:
โžก๏ธ A triangle continuation pattern
โžก๏ธ Or an ending diagonal formation

โš ๏ธ Both scenarios still favor further downside after any short-term rebound.

๐Ÿ“Š Key Levels to Watch:
๐Ÿ”น Support Zone: 97.30
๐Ÿ”น Resistance Zone: 98.00 (trendline resistance from April 30 highs)

๐Ÿ’ก Market Insight:
As long as DXY struggles below resistance, bearish pressure may continue โ€” which could support strength in assets like GOLD ๐Ÿ“ˆ๐Ÿฅ‡
โšก Traders should watch for rejection signals near 98.00 before the next move develops.
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