DXY Current Situation

TVC:DXY   U.S. Dollar Currency Index
Hello Traders,

Hope you all are doing good!!

The Situation on DXY turns short term Bearish for time being.
As mentioned in my last post we are still looking for the breakout above the upper trend line of triangle; however, the price broke the 4 month old trend line & 200 weeks MA.

1) The price most likely to hit the next support zone .

Wait for the price rejection for BULLISH signal at this level. The chance for reversal is high

1) There is strong Support zone .
2) Vaccine news likely to turn Risk-off situation in market.

** Personally i prefer to wait for rejection at mentioned support zone before opening any position.

Please follow and like if you agree or this idea helps you out in your trading plan.

Disclaimer: This is just an idea. Please do your own analysis before opening a position.
Trade closed: target reached: Target Reached...Please follow and like if this trade benefitted you.


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