Klimex

DXY Approaching Support, Prepare For A Bounce

Long
TVC:DXY   U.S. Dollar Currency Index


DXY is approaching its support at 96.86(100% Fibonacci extension , horizontal swing low support, 38.2% Fibonacci retracement ) where it could potentially bounce to its resistance at 97.47 (100% Fibonacci extension , horizontal swing high resistance).

Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks

Comments

96.00 - 96.20 is a much more likely rebound spot based on the 1W Channel Up:

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