Dollar Index currently at a zone of mutual confluences coming as Support Important day(s) for DXY this week Make it or Break it ! Will it Hold Uptrend? Does Macro indicates a Strong Rallying 'Mighty' DXY up to 111 Level ? Rate Hikes! Inflation! Slowed down Economy since 2020 due to Covid-19 Pandemic War! Arising tension on Horizon between China and Taiwan, will America intervene? There are a lot going on for the World and the DXY
Confluences of Support Zone;
-20EMA on the Daily -Orange Trendline Support - 0.618 White Fibbonaci Levels (103.6 for the DXY) (also being a good stoploss for the entry from here)
*MACD signal line crossing down, weak momentum? *RSI regular-bearish Divergence Lagging still helpful indicators! Today's price action of candlestick close and tomorrow's opening are key indicators to tell us how DXY will perform in the short-midd term (rest of 2022)
Until the next one with confirmations, Trade Safe!
NOTE that this is not Financial Advise ! Pleade do your own research before basing your action soly on this idea
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Here's your LONG entry now if you're impatient waiting for completed candlesticks Confirmations! Low risk Stop LOSS