DXY: Imminent Move Down towards the Multi Decade Trend line U.S. Dollar Currency IndexTVC:DXYGivtrade_GroupDXY just confirmed a major signal following its rejection from a parallel channel , a major resistance point sitting near 99.8$ sending signals towards the downside. Preliminary targets on the downside is the 98.3$ area , coming at the bottom of the channel along with a multi touch point on the 4h-1D timeframe. Now if that level breaks that is where we might see a new yearly low. The yearly low is at 95.583$. A break of that level would have to come with major economic data and this starts with Fridays NFP report. A weaker than expected report would support holding interest rates steady. This was supported yesterday as the ADP report came in below expectations and rate hike expectations decreased as a result. DXY is at a major point and this months CPI, PPI, NFP and FOMC are going to be the main drivers. Hope you liked today’s anaylsis, make sure to follow for more