DXY Index is Ready to Pump by 🌄Morning Candlestick Pattern🌄

May 16, 2024

🏃‍♂️DXY Index is moving near the 🟢Support zone($104.27-$103.90)🟢, and 200_SMA(Daily) and 100_SMA(Daily), and the lower line of the ascending channel.

💡Also, the Morning Candlestick Pattern is clearly visible.

🌊According to the theory of Elliott waves, it seems that the DXY Index has completed the Double Three Correction(WXY) in the support zone.

🔔I expect the DXY Index to rise to at least the Resistance line.

U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.

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May 16, 2024

Trade active

May 17, 2024

Note

The DXY index still has a chance of attacking the Resistance line.

If the 🟢Support zone($104.27-$103.90)🟢, and 200_SMA(Daily), and 100_SMA(Daily) are broken, we should wait for a sharper drop in the DXY Index(probably until the next 🟢support zone🟢).

May 20, 2024

Note

We should wait for the DXY Index to attack the resistance line. The analysis is still valid.

May 22, 2024

Trade closed: target reached

May 24, 2024

Note

DXY was able to break the resistance line; the next target is the Resistance zone.