The US Dollar Index (DXY) is currently trading around 97.13 moving within a rising wedge pattern visible on the chart. Price has formed higher lows since the major drop around February 7-11 indicating a corrective uptrend. However the upward momentum is weakening as price nears the wedge resistance line. A break below the wedge support around 97 could trigger a bearish move targeting 96.70 first and potentially 96.50 if selling pressure continues. Overall while short term strength exists the structure suggests a possible reversal soon.
Trade Plan - Sell Setup
Sell Zone: 97.10 - 97.20
Sell Trigger: Strong H1–H4 bearish rejection or close from this zone
Targets: 96.70 → 96.50 → 96.30
Invalidation: H4 close above 97.30
Bias: Sell on rallies until 97.50–97.60 is reclaimed.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Trade Plan - Sell Setup
Sell Zone: 97.10 - 97.20
Sell Trigger: Strong H1–H4 bearish rejection or close from this zone
Targets: 96.70 → 96.50 → 96.30
Invalidation: H4 close above 97.30
Bias: Sell on rallies until 97.50–97.60 is reclaimed.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.