frankwugz

DXY is close to have another breakthrough attempt

TVC:DXY   U.S. Dollar Currency Index
It's my 1st time to have DXY analysis, I start from longer time frame to short time frame sequences.
1M chart:

For long run, DXY will approach and breakthrough 103.82 which was set Jan. 2017.

1W chart:

In middle term, DXY stuck in a pivot area 95~98 for past 10 months. It may continue 1~3 months oscillation before break through resistance 98.

1D chart:

Though it likely continues oscillate within 95~98 pivot area on 1W chart. It shows upward trend on 1D chart. Another breakthrough attempt is already on the way.

4H chart:

It's obvious that up trend momentum remains strong in short term. And it's in a narrow pivot area 96.8~97.5. After pivot area mature, Price may lift to meet 98 resistance.

In conclusion, short term trade, I'd make limited order Long at price 96.8, SL:96.5, TP:97.8
middle term, I still see it remians pivot area oscillation. So i'd make limited order to short at price 98, SL:98.3, TP:96.
That means, I may Long DXY after price breakthrogh 98.1
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