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Mahtab_Tradia
Jul 28, 2021 1:49 PM

DXY First Rise, Then Fall 

U.S. Dollar Currency IndexTVC

Description

In Daily and 4H time frames, price has been rejected by the channel’s lower band and is pushed to the upside.

MACD shows a positive divergence:
Although price has made a higher low, MACD has made a lower low.

For now, I expect a rise to 92.840 which is the yesterday’s high, then if price could break the daily high, we can expect more rise to 93.20 which is the next resistance level (Weekly high).

Otherwise, if price can’t break the daily high and gets rejected by this level, we can expect a fall and a breakout on the channel’s lower band with two possible targets at 92.25 and 92.00
Comments
KlejdiCuni
Thanks for sharing
Pierre32324
thanks for sharing your analysis and your idea
InkyGrip
Thank you! 🦐👍🏻
bkgordon549ca
agree.
Babenski
good job
CobraVanguard
keep the good work!
YMGroup
I am totally agree with you!
AtlasTrades
Very Possible Scenario 🔥
MMBTtrader
great charting
financialflagship
Nice chart, keep up the good work.
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