Hello Traders! 👋
What are your thoughts on DXY?
After breaking above the previous swing highs, the U.S. Dollar Index (DXY) has entered a healthy corrective phase and is now approaching a strong confluence support area.
The highlighted green zone represents a significant demand area, where previous resistance has turned into support. This zone also aligns with the 23.6% Fibonacci retracement, increasing the probability of renewed buying interest.
We expect buyers to react positively once price reaches this demand zone. If this support holds and bullish confirmation emerges, the uptrend is expected to resume, with the upper boundary of the long-term ascending channel serving as the next major upside target.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on DXY?
After breaking above the previous swing highs, the U.S. Dollar Index (DXY) has entered a healthy corrective phase and is now approaching a strong confluence support area.
The highlighted green zone represents a significant demand area, where previous resistance has turned into support. This zone also aligns with the 23.6% Fibonacci retracement, increasing the probability of renewed buying interest.
We expect buyers to react positively once price reaches this demand zone. If this support holds and bullish confirmation emerges, the uptrend is expected to resume, with the upper boundary of the long-term ascending channel serving as the next major upside target.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
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t.me/+1gFAIO4CJJw3NTU0
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.