The U.S. Dollar index (DXY) has been trading within a 3.5-year Channel Down since its September 28 2022 High and is currently on a recovery following January's Low near its bottom (Lower Lows trend-line).
A break above its 1W MA50 (red trend-line) would technically confirm this new Bullish Leg as that line has been intact since March 05 2025. A similar bullish break-out in September 2023 was what pushed the price to the 0.5 Fibonacci retracement level. Even the 1W RSI sequences between the two fractals are similar.
As a result, we expect DXY to hit 102.500 (Fib 0.5) if a 1W MA50 break-out takes place.
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A break above its 1W MA50 (red trend-line) would technically confirm this new Bullish Leg as that line has been intact since March 05 2025. A similar bullish break-out in September 2023 was what pushed the price to the 0.5 Fibonacci retracement level. Even the 1W RSI sequences between the two fractals are similar.
As a result, we expect DXY to hit 102.500 (Fib 0.5) if a 1W MA50 break-out takes place.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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