DXY USD Index Poised for Breakout: Key Levels to WatchAnalysis:
Price Action Strategy:
The BOS indicates a significant shift in market structure, suggesting a potential trend reversal.
The CHoCH further confirms the change in market sentiment.
Equal Highs and Equal Lows suggest areas of liquidity that the price might target.
Smart Money Concepts (SMC):
The FVG area is highlighted, indicating a potential area of interest where smart money might enter the market.
The price is currently consolidating near the FVG, suggesting a potential breakout.
ICT Strategy:
Fibonacci retracement levels (0.786, 0.705, 0.618, 0.5, 0.382) provide key levels for potential entry and exit points.
The RSI is hovering around the 50.30 level, indicating a neutral market sentiment but with potential for upward momentum.
The MACD shows a slight bullish divergence, suggesting a potential upward move.
Buy Strategy:
Entry: Near the current price level around 108.149, especially if the price breaks above the FVG.
TP1: 108.705 (Fibonacci 0.705 level)
TP2: 108.786 (Fibonacci 0.786 level)
SL: 107.847 (Fibonacci 0.382 level)
Sell Strategy:
Entry: If the price fails to break above the FVG and shows signs of reversal.
TP1: 107.928 (Fibonacci 0.5 level)
TP2: 107.847 (Fibonacci 0.382 level)
SL: 108.705 (Fibonacci 0.705 level)
Buy Signal:
entry: 108.149
tp1: 108.705
tp2: 108.786
sl: 107.847
Sell Signal:
entry: 108.705
tp1: 108.149
tp2: 107.847
sl: 108.786
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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.