Since early February, right after Trump’s inauguration, the USD Index (DXY) has been under pressure, falling sharply by over 10%.
However, after hitting the 98.00 level, things seem to have stabilized. We're seeing the early signs of a relief rally.
🔍 Technical Perspective:
- This week’s candlestick pattern suggests a bullish reversal.
- The dip on Wednesday was quickly bought, showing buyer interest.
- A minor correction occurred yesterday, but dips are being well supported.
- Currently, the DXY trades around 99.60, just under the psychological level of 100.
🎯 Outlook:
As long as 98 remains intact, the bias shifts towards a potential rebound.
First target: 102 – a logical resistance zone and prior support.
This is not yet a confirmed trend reversal, but the price action is shifting. The key now is how the market reacts around the 100 level. A break above could trigger further bullish momentum.
However, after hitting the 98.00 level, things seem to have stabilized. We're seeing the early signs of a relief rally.
🔍 Technical Perspective:
- This week’s candlestick pattern suggests a bullish reversal.
- The dip on Wednesday was quickly bought, showing buyer interest.
- A minor correction occurred yesterday, but dips are being well supported.
- Currently, the DXY trades around 99.60, just under the psychological level of 100.
🎯 Outlook:
As long as 98 remains intact, the bias shifts towards a potential rebound.
First target: 102 – a logical resistance zone and prior support.
This is not yet a confirmed trend reversal, but the price action is shifting. The key now is how the market reacts around the 100 level. A break above could trigger further bullish momentum.
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.