Welcome back, guys! 👋
I'm Skeptic, and let's kick off the week with a unique and exciting analysis of DXY.
🔍 Daily Time Frame Analysis
Starting with the daily time frame, DXY recently hit a significant peak at 109.655, followed by a sharp decline, breaking below the critical support zone at 107.405. This breakdown resulted in forming lower highs and lower lows, confirming a bearish structure. Afterward, DXY retraced sharply to the 0.618 Fibonacci level of its major uptrend, signaling a potential corrective phase.
Although the sentiment remains bearish for now, we must consider the possibility of a price reversal from this crucial support zone.
⏳ 4H Time Frame Analysis
Now, moving to the 4-hour time frame, as discussed in the previous analysis, we anticipated a breakdown of 104.235, which indeed played out, hitting our target of 103.398. Currently, the 104.235 level serves as a 4H resistance, while 103.303 acts as a daily support.
These two levels form our main triggers:
The short trigger has a higher win rate and risk-to-reward ratio since it aligns with the ongoing bearish trend.
💡 Final Thoughts
Thanks for sticking with me through this analysis! I hope your week ahead is profitable and insightful.
I'm Skeptic, and let's kick off the week with a unique and exciting analysis of DXY.
🔍 Daily Time Frame Analysis
Starting with the daily time frame, DXY recently hit a significant peak at 109.655, followed by a sharp decline, breaking below the critical support zone at 107.405. This breakdown resulted in forming lower highs and lower lows, confirming a bearish structure. Afterward, DXY retraced sharply to the 0.618 Fibonacci level of its major uptrend, signaling a potential corrective phase.
Although the sentiment remains bearish for now, we must consider the possibility of a price reversal from this crucial support zone.
⏳ 4H Time Frame Analysis
Now, moving to the 4-hour time frame, as discussed in the previous analysis, we anticipated a breakdown of 104.235, which indeed played out, hitting our target of 103.398. Currently, the 104.235 level serves as a 4H resistance, while 103.303 acts as a daily support.
These two levels form our main triggers:
- 💚 Long Trigger: Above 104.259 (confirming a potential reversal)
- 🔴 Short Trigger: Below 103.303 (aligned with the short-term downtrend)
The short trigger has a higher win rate and risk-to-reward ratio since it aligns with the ongoing bearish trend.
💡 Final Thoughts
Thanks for sticking with me through this analysis! I hope your week ahead is profitable and insightful.
Remember, planning and executing trades with clarity is the key to long-term success.Catch you on the next breakdown! 🚀
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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.