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DXY (Dollar Index): Year's High & Potential Reversal Zone 💵

Short
TVC:DXY   U.S. Dollar Currency Index

Hey traders,

DXY remains very bullish since the end of May.
However, with the recent price action, the market started to slow down.
The index is currently trading within a rising wedge pattern.
Signifying the exhaustion, bears are looking for a strong supply area to start pushing.

On focus is 93.3 - 93.5 area.
It is a potential reversal zone based on a current year's high.

Let the price reach that area and then look for a bearish breakout of the wedge as
the confirmation of a coming bearish rally.

Remember that if the price breaks the underline zone without any hesitation,
bullish continuation will be expected on the index.

❤️Please, support this idea with a like and comment!❤️
Comment: Watch my new video on NZDUSD:

Comments

On a weekly time frame the bearish sentiment is diminishing.
There is a 5:1 market extreme Long to Short. Institutional money has reduced both long and short contracts for profit taking.
There is lack of price vitality due to an equilibrium in the market.
I presume a high probability DXY will push to the upside for, AUD/USD is depreciating against the Dollar index.
Reply
Great one just like always !
Appreciate your great work mate ❤️
Thanks for sharing your outlook 😃
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find out shortly seems reasonable to me
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VasilyTrader ProjectSyndicate
@ProjectSyndicate, thank you for comment buddy!!!
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Very good!
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VasilyTrader OptimoomFX
@OptimoomFX, thank you my friend ☺️☺️☺️
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Eurusd gbpusd up this is very nice
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Same outlook, good work!
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VasilyTrader eazywayout
@eazywayout, thanks a lot bro :)
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