Hey Traders, in today’s trading session we are monitoring DXY for a potential selling opportunity around the 98.800 zone. The Dollar Index remains in a broader downtrend and is currently in a correction phase, with price approaching a key daily resistance area.
Structure: The market has been forming lower highs, consistent with bearish momentum. The 98.800 level aligns with both structural resistance and trendline rejection zones.
Fundamentals: The ongoing US government shutdown continues to pressure sentiment around the Dollar. The longer the impasse persists, the higher the risk of fiscal strain and downside pressure on the USD.
Next move: Watching how price reacts around 98.800 — a rejection here could confirm further downside continuation in line with the prevailing trend.
Trade safe,
Joe.
Structure: The market has been forming lower highs, consistent with bearish momentum. The 98.800 level aligns with both structural resistance and trendline rejection zones.
Fundamentals: The ongoing US government shutdown continues to pressure sentiment around the Dollar. The longer the impasse persists, the higher the risk of fiscal strain and downside pressure on the USD.
Next move: Watching how price reacts around 98.800 — a rejection here could confirm further downside continuation in line with the prevailing trend.
Trade safe,
Joe.
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Free Telegram Group:
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
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.