The US Dollar Index (DXY) has just made a strong bullish breakout from the 99.05–100 demand zone, confirming a reversal from its recent downtrend. This region has acted as a high-volume node and key institutional accumulation zone, as highlighted by the LuxAlgo Supply & Demand Visible Range.
Key Technical Highlights:
Demand Zone: The 98.5–100.5 range showed significant volume buildup and price rejection, signaling strong buyer interest.
Breakout Confirmation: Price broke through minor resistance at 101.2 with strong momentum and a bullish candle close.
Next Target: Eyes on 103.621, the next key resistance zone. A break above may push DXY towards 107.467, aligning with a major supply area.
Volume Profile: Low volume between 101.2 and 103.6 suggests a potential quick move toward the next resistance.
Indicators: RSI trending up but not yet overbought. MACD shows early bullish crossover on the 4H timeframe.
Fundamentals to Watch:
Upcoming USD economic data (CPI, Retail Sales, FOMC minutes).
Risk-off sentiment globally could boost USD as a safe-haven play.
Trade Plan (Not Financial Advice):
Buy Zone: Already triggered breakout above 101.2.
TP1: 103.6
TP2: 107.4
SL: Below 99.8 to invalidate the breakout thesis.
What do you think? Will DXY continue its bullish move or face rejection around 103.6? Let’s discuss in the comments.
Key Technical Highlights:
Demand Zone: The 98.5–100.5 range showed significant volume buildup and price rejection, signaling strong buyer interest.
Breakout Confirmation: Price broke through minor resistance at 101.2 with strong momentum and a bullish candle close.
Next Target: Eyes on 103.621, the next key resistance zone. A break above may push DXY towards 107.467, aligning with a major supply area.
Volume Profile: Low volume between 101.2 and 103.6 suggests a potential quick move toward the next resistance.
Indicators: RSI trending up but not yet overbought. MACD shows early bullish crossover on the 4H timeframe.
Fundamentals to Watch:
Upcoming USD economic data (CPI, Retail Sales, FOMC minutes).
Risk-off sentiment globally could boost USD as a safe-haven play.
Trade Plan (Not Financial Advice):
Buy Zone: Already triggered breakout above 101.2.
TP1: 103.6
TP2: 107.4
SL: Below 99.8 to invalidate the breakout thesis.
What do you think? Will DXY continue its bullish move or face rejection around 103.6? Let’s discuss in the comments.
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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.