Hoag
Long

DXY Technical Analysis: It’s uptrend or correction will continue

INDEX:DXY   U.S. Dollar Index
To receive analysis directly via email, please SIGN UP HERE

Talking Points:

  • DXY Technical Strategy: Bullish
  • Support: 95.37, 95.06, 94.84
  • Resistance: 96.55, 97.33, 98.01

DXY             can continue trading in consolidation. Break of resistance of 96.55 will challenge next resistance level at 97.33 while break of support of 95.37 will find support near 95 area. We believe we see temporary bullish momentum in coming days before sharp drop. As Fed most discussed Sept rate cut decision looming here, we see volatility in dollar pairs. We will remain temporary bullish a while.

On Elliottwave, we are holding flat (b) correction and still suspecting another low is pending to complete wave (c) of wave 4 before having rally to continue. As we might be in wave c of wave (b), we are temporary bullish and remain bullish a while until market proved ourself wrong. break lower 93.45 will prove us wrong on flat correction and we might re-evaluate our counts.

To be conclude, we are temporary bullish for dollar and believe it will be continue for near term future. To receive instance trade update and analysis, please subscribe us for free risk free 15 days trial by clicking here.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out