📉 Price Action Update: Key Levels to Watch
Currently, the price is trading within the 108 – 107.800 range. There are two potential scenarios to anticipate:
1️⃣ If the price continues to decline, we could see a drop toward 106.950.
2️⃣ Alternatively, a pullback from 108 could push the price toward 108.500 – 108.700 before resuming its downside move.
This analysis is based on DXY's price action on February 3rd, where it faced monthly timeframe resistance. Such a significant resistance level often leads to a short-term downtrend, especially on lower timeframes like the 1-hour chart.
📊 Stay alert to price reactions at these key levels! 🚀
Currently, the price is trading within the 108 – 107.800 range. There are two potential scenarios to anticipate:
1️⃣ If the price continues to decline, we could see a drop toward 106.950.
2️⃣ Alternatively, a pullback from 108 could push the price toward 108.500 – 108.700 before resuming its downside move.
This analysis is based on DXY's price action on February 3rd, where it faced monthly timeframe resistance. Such a significant resistance level often leads to a short-term downtrend, especially on lower timeframes like the 1-hour chart.
📊 Stay alert to price reactions at these key levels! 🚀
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.
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.