US Dollar is making an intraday corrective pullback within downtrend [Video]

Gregor Horvat Wavetraders

Good morning traders! Stocks keep pushing higher along with yields, so it looks like 10Y US Notes could still see lower support levels, and that's why USdollar is in a bigger intraday correction. What we want to say is that while the 10Y US Notes are still searching for support, the DXY can stay in recovery mode or at least sideways. In the meantime, stocks can easily see even higher levels after NVIDIA surpassed earnings.

Looking at the intraday USDollar Index - DXY chart, we see a leading diagonal formation, so we are tracking now an intraday abc correction before a bearish continuation, thus keep an eye on GAP from May 18 around 101 level that can be filled and may act as a resistance before a bearish continuation.

DXY tow-hour chart

For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on May 26 2025:

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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