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21.01.2025
The USDX fell more than 1%
On Monday, the US dollar index fell more than 1% during the day, and the price once fell below the 108 mark. It ended down 1.22% at 108.08.
Trump did not immediately impose tariffs on Monday
U.S. President Trump did not immediately impose tariffs on Monday, but he said in his inaugural address that the United States would gain "huge" revenue from foreign trade tariffs, while his government would work to rebuild American industry.
The United States will withdraw from the Paris Climate Agreement
The White House said on Monday that U.S. President Trump will once again withdraw the United States from the Paris Climate Agreement, which will be the second time in a decade that the United States has withdrawn from global efforts to combat climate change.
Technically speaking, the bearish market trend prevailed in the short term
the Chart of the Day
On the chart of the day, USDX closed down significantly yesterday. The bearish market trend prevailed in the short term. In terms of technical indicators, KDJ went downwards after the death cross, showing USDX will fall further. Investors should focus on whether USDX will break through the support at 107.3. It will fall further with potential support at 106.4 if it breaks below 107.3.
4-hour chart
On the 4-hour chart, USDX fluctuated and declined. The bearish market trend prevailed. In terms of technical indicators, MACD went downwards after the death cross, showing that the market trend is bearish. Investors should focus on whether USDX will break through the resistance at 108.8. It will fall further if it rebounds but is capped at 108.8.
Key resistance:108.8,109.2
Key support: 107.3,106.4
Generally speaking, USDX is more likely to correct in the short term. Investors should focus on the high-altitude trading opportunities during the day.
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