VasilyTrader

DOLLAR INDEX (DXY) Important Decision Ahead! đź’µ

Short
VasilyTrader Updated   
TVC:DXY   U.S. Dollar Index

Hey traders,

Dollar index is approaching a key weekly resistance cluster.

94.6 - 95.0 is the decision zone.
Depending on the reaction of the price to that I see two potential scenarios:
  • In case of a bullish breakout of the yellow zone,
    a strong bullish continuation will be expected.
    Next resistance will be 96.0 level

  • In case of a bearish breakout of a support line of a rising wedge pattern,
    a strong bearish movement will be expected.
    Next support will be 92.0 level

Wait for the reaction first, then follow the market.

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