Mahtab_Tradia

DXY In The Ascending Channel

TVC:DXY   U.S. Dollar Currency Index
After a sharp rise to 90.675, price has entered to the ascending parallel channel and is bouncing in it.

Currently, price is at the lower band of the ascending channel and got rejected by that. So we can expect a rise towards the channel’s upper band.

On the other hand, we can see a reversal double top pattern creation either and since channels are often likely to be broken out to the opposite side, we should be careful about the channel’s downside breakout as well.

In the case of downside breakout, we might see a fall at least around 90.340 - 90.300 which is a strong support level and after that, a fall to 90.200 - 90.150 which is the lower band of the new channel and also a demand level .

I’m on the bullish side for DXY . What about you?
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Comments

Thanks, brilliant as per usual!
+2 Reply
@Investroy Appreciate your support
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agree your analysis
+1 Reply
Great analysis!
+1 Reply
@KlejdiCuni 🙏🏻🙏🏻
Reply
agree and valid channel
+1 Reply
Great analysis, thanks for sharing 😊
+1 Reply
@financialflagship 🙏🏻🙏🏻🙏🏻
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