echnical analysis for the U.S. Dollar Index (DXY) on the 4-hour timeframe. Here’s a detailed analysis of the idea:
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🔍 Technical Breakdown
1. Downtrend Channel:
Price action is clearly moving within a descending channel.
Lower highs and lower lows confirm a bearish structure.
2. Resistance Zone + EMA Confluence:
Price is approaching a horizontal resistance zone near 98.70–98.75, which aligns with the 50 EMA — a dynamic resistance.
Repeated rejections from this zone are marked with red arrows, making it a strong supply area.
3. Bearish Price Projection:
If price rejects from the resistance zone again, the expected move is downward toward the support/target zone at 96.870.
The drop would mirror the previous downward legs of approximately -1.9%, showing consistency in bearish waves.
4. RSI (14):
Currently near 40.97, indicating mild bearish momentum with some room to fall before reaching oversold (30), which supports a downside move.
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📉 Forecasted Move
Short-Term Bullish Pullback: Price might touch the EMA 50 and resistance zone.
Bearish Reversal Expected: If the resistance holds, price could drop ~1.9% to retest the channel bottom / 96.870 support zone.
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🧠 Trading Idea Summary
Bias: Bearish
Entry Zone: Around 98.70–98.75 (resistance + EMA 50)
Target: 96.870
Stop-Loss: Above 99.00 (or trendline breakout)
Confirmation: Bearish candlestick pattern or RSI divergence at resistance
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📌 Title Suggestion:
U.S. Dollar Index Bearish Setup – Rejection Expected Below EMA 50, Targeting 96.87
Feedback My idea like and comment's 🙏
---
🔍 Technical Breakdown
1. Downtrend Channel:
Price action is clearly moving within a descending channel.
Lower highs and lower lows confirm a bearish structure.
2. Resistance Zone + EMA Confluence:
Price is approaching a horizontal resistance zone near 98.70–98.75, which aligns with the 50 EMA — a dynamic resistance.
Repeated rejections from this zone are marked with red arrows, making it a strong supply area.
3. Bearish Price Projection:
If price rejects from the resistance zone again, the expected move is downward toward the support/target zone at 96.870.
The drop would mirror the previous downward legs of approximately -1.9%, showing consistency in bearish waves.
4. RSI (14):
Currently near 40.97, indicating mild bearish momentum with some room to fall before reaching oversold (30), which supports a downside move.
---
📉 Forecasted Move
Short-Term Bullish Pullback: Price might touch the EMA 50 and resistance zone.
Bearish Reversal Expected: If the resistance holds, price could drop ~1.9% to retest the channel bottom / 96.870 support zone.
---
🧠 Trading Idea Summary
Bias: Bearish
Entry Zone: Around 98.70–98.75 (resistance + EMA 50)
Target: 96.870
Stop-Loss: Above 99.00 (or trendline breakout)
Confirmation: Bearish candlestick pattern or RSI divergence at resistance
---
📌 Title Suggestion:
U.S. Dollar Index Bearish Setup – Rejection Expected Below EMA 50, Targeting 96.87
Feedback My idea like and comment's 🙏
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Join My Official Channel Link
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Join My Public Channel Link
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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.