orvilleawright

DXY (4H) trading at lows of spike and channel

TVC:DXY   US DOLLAR CURRENCY INDEX
DXY             (4H): Price is trading in a up channel after a sharp upward move. We are currently at the lower trend line of this bull channel. Price is clearly in a up trend. My upside targets are 98.1x (previous high) then 98.5x (upper measure move/previous high). I would not consider shorting until there is a strong breakdown of the up channel that brings price below the 50 SMA . My downside targets are 97.2x (resistance now support) then 96.3x (61.8% retracement, previous SR zone)
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