The speaker analyzes DXY on the 4-hour timeframe, noting the market's tendency for symmetry within distribution channels. He observes a bearish trend with multiple breaks of structure (BoS) and changes of character (ChoCH). The current price is near 97.456, and he anticipates the price to continue its bearish trajectory towards the 97.000 level. Invalidation of this bearish outlook would occur if DXY moves above the 98.000 resistance.