Hello Traders! 👋
What are your thoughts on DXY?
The US Dollar Index continues to trade within a well-defined descending channel, maintaining its broader bearish structure. Price is currently trading around the middle of the channel, and we expect the ongoing corrective advance to continue toward the upper boundary.
We expect DXY to extend its current recovery toward the 105.50–107.30 resistance zone. This area aligns with the upper boundary of the descending channel and key Fibonacci retracement levels, particularly the 0.618 level at 104.422 and the 0.786 level at 106.899. This confluence could make the area a significant resistance zone.
If price reaches this zone and shows clear signs of a bearish reversal, we expect selling pressure to increase again, potentially driving the index toward the lower boundary of the descending channel. In this scenario, the 92.00–93.00 area would represent a potential downside target.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades❤️
What are your thoughts on DXY?
The US Dollar Index continues to trade within a well-defined descending channel, maintaining its broader bearish structure. Price is currently trading around the middle of the channel, and we expect the ongoing corrective advance to continue toward the upper boundary.
We expect DXY to extend its current recovery toward the 105.50–107.30 resistance zone. This area aligns with the upper boundary of the descending channel and key Fibonacci retracement levels, particularly the 0.618 level at 104.422 and the 0.786 level at 106.899. This confluence could make the area a significant resistance zone.
If price reaches this zone and shows clear signs of a bearish reversal, we expect selling pressure to increase again, potentially driving the index toward the lower boundary of the descending channel. In this scenario, the 92.00–93.00 area would represent a potential downside target.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades❤️
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.