Description
Here’s an analysis of the DXY 5-hour chart frame
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BREAK OF STRUCTURE (BOS):
Multiple BOS labels on the chart signal that price has broken previous structure lows, confirming bearish momentum. BOS is marked during the transition from uptrend to downtrend, strengthening the bearish case.
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CHANGE OF CHARACTER (CHOCH):
CHOCH events appear throughout the chart, particularly during reversals. These signal short-term trend changes. The clustering of CHOCH labels at key zones suggests instability and potential for deeper downside.
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CLOUD (ICHIMOKU):
The chart includes Ichimoku cloud overlays. Price is mostly trading **below the cloud, which aligns with a bearish bias. When price is under the cloud, it often acts as dynamic resistance.
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DXY PRICE LEVEL (99.010):
The current DXY price is around 99.010, just under the resistance trendline and cloud. This level acts as a potential rejection zone, especially given the recent price action hovering sideways.
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RESISTANCE TRENDLINE:
A descending resistance trendline connects the lower highs from mid-May to now. This reinforces the bearish outlook, as price fails to break above it repeatedly.
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SUPPORT ZONE:
There’s a well-defined support zone near the 97.000 level. The chart indicates a possible revisit to this zone with a bold downward arrow, hinting at an anticipated decline if resistance holds.
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TARGET ICON:
A bullseye target icon is positioned below the support zone, visually emphasizing the seller's target area. This aligns with the expectation that DXY will decline further if the setup completes.
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SUMMARY:
The chart signals a bearish structure for DXY on the 5-hour timeframe. Price is being squeezed between a descending resistance trendline and a horizontal support zone. A rejection from the resistance area and break below support would confirm further downside movement, possibly to sub-96 levels.
🎯 TARGET ZONE: 96.800 – 97.000
Here’s an analysis of the DXY 5-hour chart frame
---
BREAK OF STRUCTURE (BOS):
Multiple BOS labels on the chart signal that price has broken previous structure lows, confirming bearish momentum. BOS is marked during the transition from uptrend to downtrend, strengthening the bearish case.
---
CHANGE OF CHARACTER (CHOCH):
CHOCH events appear throughout the chart, particularly during reversals. These signal short-term trend changes. The clustering of CHOCH labels at key zones suggests instability and potential for deeper downside.
---
CLOUD (ICHIMOKU):
The chart includes Ichimoku cloud overlays. Price is mostly trading **below the cloud, which aligns with a bearish bias. When price is under the cloud, it often acts as dynamic resistance.
---
DXY PRICE LEVEL (99.010):
The current DXY price is around 99.010, just under the resistance trendline and cloud. This level acts as a potential rejection zone, especially given the recent price action hovering sideways.
---
RESISTANCE TRENDLINE:
A descending resistance trendline connects the lower highs from mid-May to now. This reinforces the bearish outlook, as price fails to break above it repeatedly.
---
SUPPORT ZONE:
There’s a well-defined support zone near the 97.000 level. The chart indicates a possible revisit to this zone with a bold downward arrow, hinting at an anticipated decline if resistance holds.
---
TARGET ICON:
A bullseye target icon is positioned below the support zone, visually emphasizing the seller's target area. This aligns with the expectation that DXY will decline further if the setup completes.
---
SUMMARY:
The chart signals a bearish structure for DXY on the 5-hour timeframe. Price is being squeezed between a descending resistance trendline and a horizontal support zone. A rejection from the resistance area and break below support would confirm further downside movement, possibly to sub-96 levels.
🎯 TARGET ZONE: 96.800 – 97.000
Trade closed: target reached
Target 97.000 reached 
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Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.
🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.