U.S. Dollar Index (DXY) illustrates a potential bullish reversal setup following a prolonged downtrend. The chart shows a textbook accumulation phase, followed by a breakout projection with clearly marked target zones.
Entry Zone:
Around 99.30 - 99.50
This region shows multiple bullish wicks (highlighted by blue arrows), suggesting strong buying interest.
The current candle is showing a breakout from a falling wedge or accumulation pattern, implying a trend reversal.
Current Price (as seen on chart):
99.59 (approx) at the time of the screenshot.
Positioned just above the breakout zone, indicating a potential entry confirmation for bulls.
Target Point 1:
100.90 - 101.00
Near recent resistance zones and aligns with minor structural resistance.
Target Point 2:
101.50 - 101.70
A higher resistance level, suggesting a more extended move if momentum continues.
The chart suggests bullish sentiment in the short term:
Momentum appears to be shifting from bearish to bullish.
Breakout from the range could lead to a strong upside move.
Volume spikes (if any) would further confirm the breakout’s strength (though volume is not shown here).
Watch for false breakouts.
Price could retest the breakout zone (99.50 area) before continuing higher.
Keep an eye on economic data or FOMC-related news, as DXY is sensitive to U.S. macroeconomic changes.
Entry Zone:
Around 99.30 - 99.50
This region shows multiple bullish wicks (highlighted by blue arrows), suggesting strong buying interest.
The current candle is showing a breakout from a falling wedge or accumulation pattern, implying a trend reversal.
Current Price (as seen on chart):
99.59 (approx) at the time of the screenshot.
Positioned just above the breakout zone, indicating a potential entry confirmation for bulls.
Target Point 1:
100.90 - 101.00
Near recent resistance zones and aligns with minor structural resistance.
Target Point 2:
101.50 - 101.70
A higher resistance level, suggesting a more extended move if momentum continues.
The chart suggests bullish sentiment in the short term:
Momentum appears to be shifting from bearish to bullish.
Breakout from the range could lead to a strong upside move.
Volume spikes (if any) would further confirm the breakout’s strength (though volume is not shown here).
Watch for false breakouts.
Price could retest the breakout zone (99.50 area) before continuing higher.
Keep an eye on economic data or FOMC-related news, as DXY is sensitive to U.S. macroeconomic changes.
t.me/Smart_Money_Flow_SMF
Forex, Gold & crypto Signals with detailed Analysis .
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Gold Signals With proper TP & SL
Forex, Gold & crypto Signals with detailed Analysis .
t.me/Smart_Money_Flow_SMF
Gold Signals With proper TP & SL
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
t.me/Smart_Money_Flow_SMF
Forex, Gold & crypto Signals with detailed Analysis .
t.me/Smart_Money_Flow_SMF
Gold Signals With proper TP & SL
Forex, Gold & crypto Signals with detailed Analysis .
t.me/Smart_Money_Flow_SMF
Gold Signals With proper TP & SL
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.