junaidk24
Long

DXY Long trade Idea

INDEX:DXY   US DOLLAR CURRENCY INDEX
The DXY look as if it is positioned for the next bullish move upwards thanks to last weeks disappointing NFP numbers.
we can see an ascending triangle formation being formed, with confluence of the 61.8 fib and bullish rsi divergence.
i have also highlighted the bullish engulfing bar which seems to have demand orders supporting price.
if we do see a slight move down then i have highlighted the lower demand area where price could rebound from upwards.

target 1 for this trade will be around the 102.00 handle

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