DXY Technical Analysis & Forecast -Gone Parabolic, Targets Hit!

Traders

Dollar has gone parabolic as expected and has been gaining strength. We have been holding our long bias since 89 level. DXY can go much higher from here is the momentum picks up further. However there are few levels on dollar index which you should be aware of. In our analysis we always look at both bearish and bullish scenarios so that we can plan our trades better and are aware of possible risks. In this DXY (Dollar/USD) Technical Analysis & Forecast, lets find out what dollar has been doing and what levels we should be aware of.

On the bull side we have:

1. Inverse head and shoulders pattern
2. Double bottom
3. W pattern formation
4. Channel upper end level
5. Parabolic nature

On the bear side we have:

1. FCP zones above ahead
2. Gaps left at the bottom which will get filled at some point sooner or later
3. Slightly over bought conditions

Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too

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Take care and trade well
-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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