DXY Can drop even lower. Buy and sell levels long-term.

The U.S. Dollar Index (DXY) has been pulling back since the September 28 High. Technically it has been trading within a long-term Bullish Megaphone pattern since the start of the year. As you see, the price is below the 4H MA50 (red trend-line), and since at least May 30, the Low is formed at least on the 1D MA50 (blue trend-line). This is the level to enter if you are looking for a long-term buy that targets the next .382 Fibonacci extension in line, the 5.382 at 117.825. There is also the 62.20 1W RSI Support to consider before entering. Note that if the 4H MA50 breaks upwards first, it is a bullish break-out signal.

We are only willing to sell if the price breaks below the 1D MA100 (green trend-line), which is slightly below the bottom (Higher Lows trend-line) of the Megaphone, giving us good tolerance levels hence a solid confirmation. In that case we will be targeting the 1D MA200 (orange trend-line).



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