DXY 240 Breakout

U.S. Dollar Currency IndexTVC

Description

⋅ Nov 19, 2020 10:47 AM

DXY has been range-bound for a period of time now, bottoming out with little signs of a trend.

Signs of a breakout of the bear trend. Targets set for a test of the previous range highs.

Comment

⋅ Nov 20, 2020 9:06 AM

Price has failed to retest structure low and has retested the bearish trend line. We now wait for the bulls to take the role reversal and head north.

Comments

GoldenPig20

⋅ Nov 25, 2020 9:57 AM

Thanks for that, interesting chart. Where do you think DXY is going next, now it's below the key support line? Rebound to 92.5 then down, or up again?

Youza

⋅ Nov 27, 2020 7:37 AM

@GoldenPig20, Although price broke below and retested 92.1 regions, we still have sideways movement. We will need some more price action to break back above and find support.