US dollar Index: Head and Shoulder

TVC:DXY   U.S. Dollar Currency Index
272 1
Pattern formed Head and Shoulders

Ichimoku ( Daily Chart )

Tenken-Sen- 94.93

Kijun-Sen -95.64

Trend reversal Level- 94.30

DXY is tding weak for two consecutive days. The pair lost more than 70 pips from the high of 95 level. It hits low of 94.32 and shown a minor recovery. It is currently trading around 94.51.

On the lower side, major support is around 94.31(23.6% fib) and any break below targets 94.

The near term major resistance is around 95 and any violation above will take the index till 95.75/96.25/96.98.

It is good to sell on rallies around 94.60-65 with SL around 95 for the TP of 94./93.25.

Comment: DXY has broken major support 94.30 dip till 93.60 likely
I agree with your idea!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out