$DXY - The Ballads of Dollar (100-105)

28 авг. 2023 г.

-The Dollar Index DXY has experienced lots of tremendous
vertical upside during these past two-three weeks.
From negative economic news of Chinese CCP report ;
to US economy on Sticky Inflation
and persistent outlook of Interest Rates being Hiked again,
seems as investors, smart money and quite of many retail traders are fleeing in to
DXY given safety.

Meanwhile TA speaking,
DXY has been broken Resistance Trendline from 114 High after occuring a FAKE-OUT
at the Bottom Support of Range (100.8) level.
Price went to close to the Weekly 200EMA,
which seems to have provided lots of Support for DXY
by pushing the price higher .
(check the next candelstick version idea)




Upcoming Resistances to watch for DXY :

-104.707
(Last Lower High [Price Action] + confluencing S/R area)

-105.883 (Lower High from 114)
(aswell being drawn a Range's Ceiling



TRADE SAFE