Dollar's Uptrend at Risk as DXY Breakout Fails

According to City Index UK, the US Dollar's technical forecast is showing signs of trouble. The DXY index has been in an uptrend for most of the year, but a recent breakout failure could threaten this trend.

The DXY index measures the performance of the US dollar against a basket of six major currencies: EUR, JPY, GBP, CAD, CHF, and SEK. A breakout failure occurs when a stock or currency's price fails to move above a resistance level after breaking through it.

City Index UK warns that losses can exceed deposits in forex trading, especially with leveraged products such as CFDs.