The US Dollar Index (DXY) is currently facing significant pressure. The current quote is 98.18, down 9.4% year-to-date, marking the largest decline in nearly eight years. From the daily chart, it has broken below the support level of 98.25, and the RSI indicator has fallen below the midline, indicating a clear lack of momentum among bulls. Although there has been a slight rebound on the 4-hour chart, the candlestick bodies are small, and the rebound strength is quite limited. Resistance is at the 98.38-98.76 range, which is a tough barrier to break.

From a macro perspective, bearish factors are accumulating. The Federal Reserve's rate cut cycle has already begun, and market expectations of a possible shift in the Fed Chair's stance have led to at least two rate cuts being priced in this year. This provides little support for the dollar—who would chase a currency that is expected to depreciate? The US fiscal deficit continues to worsen, and concerns over the independence of the central bank have not dissipated. All these factors are adding to the reasons to short the dollar. In the short term, no strong positive news has emerged to change this pattern.

If you want to go long on the dollar, there are quite a few tools available. Forex spot platforms, dollar index futures, and related ETF products (such as UUP) all have good liquidity. But there's an old saying: the higher the leverage, the higher the risk—under these circumstances, it's better to exercise restraint, avoid chasing leverage, or you could face quick losses.