Last time we looked at the U.S. Dollar Index (DXY) we gave a sell signal on the exact top, the Lower Highs trend-line (chart below):
Our first target (102.000) got hit, which was basically the 1W MA100 (green trend-line) that supported on the May 08 bounce. This week, that trend-line broke emphatically (also the 100.825 Support) and that is a strong bearish break-out signal. Technically the 1W MA200 (orange trend-line) is next, which has been our second target (98.550) since our June 04 analysis.
Notice also that even the 1W RSI broke below its 35.05 Support, a clear indication that the long-term strength has shifted to bearish.
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Our first target (102.000) got hit, which was basically the 1W MA100 (green trend-line) that supported on the May 08 bounce. This week, that trend-line broke emphatically (also the 100.825 Support) and that is a strong bearish break-out signal. Technically the 1W MA200 (orange trend-line) is next, which has been our second target (98.550) since our June 04 analysis.
Notice also that even the 1W RSI broke below its 35.05 Support, a clear indication that the long-term strength has shifted to bearish.
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** Please LIKE ๐, FOLLOW โ , SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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๐ฐFree Channel t.me/tradingshotglobal
๐คตContact info@tradingshot.com t.me/tradingshot
๐ฅNew service: next X100 crypto GEMS!