The U.S. Dollar (DXY) may be having a green month as we approach its end but this shouldn't make you diverge from the long-term perspective. And as you see, the outlook on the 1M time-frame remains bearish as not only is the price still on Lower Highs since the September but the 1M MACD completed a Bearish Cross this March and we are still far from hitting the 1M MA50 (blue trend-line), which is the first target during trend changes.
The multi-year pattern is (the decade long) Channel Up, so the target can be near its bottom (Higher Lows trend-line) around 96.000 and if a 1M candle closes below it, the we can even target the top of the Pivot Zone at 90.000.
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The multi-year pattern is (the decade long) Channel Up, so the target can be near its bottom (Higher Lows trend-line) around 96.000 and if a 1M candle closes below it, the we can even target the top of the Pivot Zone at 90.000.
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** Please LIKE ๐, FOLLOW โ , SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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๐คตContact info@tradingshot.com t.me/tradingshot
๐ฅNew service: next X100 crypto GEMS!