DannyC914

DXY meets strong resistance

Short
TVC:DXY   U.S. Dollar Index
The previously formed cup-handle pattern came to the resistance zone (109.131~109.625) and was tested twice.
At present, the moving average of the daily chart is still bullish. If EMA13 and EMA55 form a death cross in the future and fall below the trend line and the previous low (104.646), the double top will be established.
-
Before it falls below, the daily chart should still be judged as bulls.
-
DXY monthly chart on the right (log):
After breaking the trend line, the price fell back to the same range (black rectangle below), and the rebound also came to the same range (black rectangle above), forming a monthly bumpy box, and then the price broke through the box and came to the resistance zone (107.788~109.461).
-
The daily resistance zone is 109.131~109.625, which overlaps with the monthly resistance zone.
-
Therefore, it can be inferred that the current resistance of DXY is very strong. We need to pay attention to the strong resistance here.
-

Telegram頻道:
t.me/noahchen_crypto

Telegram聊天群:
t.me/noahtradingroup

bybit sign up:
partner.bybit.com/b/56404

zoomex sign up:
partner.zoomex.com/aff/zx39840
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.