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Gapitalist
Mar 2, 2023 8:04 PM

DXY Cup and Handle Breakout Long

U.S. Dollar Currency IndexTVC

Description

DXY looks like it has formed a cup and handle pattern and breaking up out of the handle channel.

There's a HTF FVG between ~ $108.4-$109.4 acting as an upward magnet to be filled.

The current 1.618 fib target is $106.15 followed by the 2.618 at $107.46.

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On the flip side, if the retest of the channel top breaks down, the bearish FVG at the $102.6-$101.9 may get filled first before recharging for upward movement.

DYOR.
Comments
OlympusLab
I couldn't agree with you more. Your bullish perspective aligns with my own ideas - let's chat more about it!
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