DXY Buy Opportunity – Support Retest Before Next Leg UpPair: U.S. Dollar Index (DXY)
Timeframe: 30 minutes
Current Price: 98.602
Trend: Short-term bullish channel (highlighted in pink)
🧭 Key Levels
Support Zone: 98.100 – 98.350
Entry Point: 98.353 (buy zone confirmation)
Stop Loss: 98.099 (below support)
Target Point: 99.140
📊 Market Structure
The price is moving within an ascending channel, showing a steady uptrend.
It has recently reached the upper boundary of the channel and is now expected to retrace toward the support zone (blue box).
After retesting this support level, a bullish continuation is expected.
🧩 Trade Idea
Plan: Wait for price to retest the blue support area.
If bullish candlestick confirmation appears (e.g., bullish engulfing, hammer), enter a buy trade near 98.350.
Stop Loss: below 98.099 (safe margin under support).
Take Profit: near 99.140, aligning with the top of the projected move.
Risk–Reward Ratio:
Approx. 1:3.5 — good reward compared to risk.
⚠ Possible Scenarios
1. ✅ Bullish Scenario:
Price respects the support level → breaks above 98.80 → continues to 99.14.
→ Confirms continuation of bullish trend.
2. ❌ Bearish Scenario:
Price breaks below 98.10 → invalidates bullish setup → channel structure fails → potential drop toward 97.80 zone.
📈 Conclusion
Current trend: Bullish, but waiting for a retracement and confirmation is key.
Buy zone: 98.35–98.10
Target: 99.14
Stop Loss: 98.09
