Welcome back, guys! 👋I'm Skeptic
Today, we're diving deep into the DXY (U.S. Dollar Index), analyzing key levels and potential triggers.
🔍 Recap & Current Structure:
As highlighted in our previous analysis, the major daily support (0.618 Fib) held strong at 103.303, with price reacting precisely at this level.
Currently, the DXY is testing a critical 4H resistance at 104.403, which aligns with:
The RSI (65.92) suggests building bullish momentum, but confirmation requires a clean break above 104.403.
📈 Bullish Scenario (Long Setup):
📉 Bearish Scenario (Short Setup):
⚠️ Key Notes:
Fundamentals: Recent economic data favors dollar weakness—trade longs cautiously.
Risk Management: Avoid overleveraging—wait for confirmed breaks.
Stay sharp, and I’ll see you in the next analysis!
Today, we're diving deep into the DXY (U.S. Dollar Index), analyzing key levels and potential triggers.
🔍 Recap & Current Structure:
As highlighted in our previous analysis, the major daily support (0.618 Fib) held strong at 103.303, with price reacting precisely at this level.
Currently, the DXY is testing a critical 4H resistance at 104.403, which aligns with:
- A 4H consolidation range breakout zone
- A potential fakeout trap if price fails to sustain momentum
The RSI (65.92) suggests building bullish momentum, but confirmation requires a clean break above 104.403.
📈 Bullish Scenario (Long Setup):
- Trigger: Break & close above 104.403
- Confirmation: RSI holding above 65.92
- Invalidation: Rejection + close back below 104.000
📉 Bearish Scenario (Short Setup):
- Trigger: Rejection at 104.403 + drop below 103.936
- Confirmation: RSI reversal below 50 + bearish 4H candle close
⚠️ Key Notes:
Fundamentals: Recent economic data favors dollar weakness—trade longs cautiously.
Risk Management: Avoid overleveraging—wait for confirmed breaks.
Stay sharp, and I’ll see you in the next analysis!
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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.
Related publications
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.