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U.S. Dollar Index
Long

DXY H4 LONG PRICE ACTION FORECAST

49
The dollar index has shown a steady recovery from its lower recorded on the 10th, helping to connect the trendline from the W1 realm. As currently showing some exhaustion from D1 with a kind of Doji candle.

A price correction to the confluence level where the previous resistance level meets with the trendline can be considered as a good spot for a long entry.

Fundamentally speaking, the US economy keeps showing resilience, yesterday Philly Fed Manufacturing Index rose to 27.5 beatings all the odds from the investors and the forecasted-23.0.

The order:
Type: buy-limit.
S/L: 36 pips - R:R | 1:3
T/P: target strong support level form D1
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Chart PatternsDXYdxylongTechnical IndicatorsTrend Analysis
OGFXTRADER
FEEL FREE TO CHECK MY SOCIAL NETWORKS FOR MORE MARKET INFORMATION 🇺🇸 🇪🇸

INSTAGRAM:
instagram.com/og.fxtrader
FREE TELEGRAM:
t.me/ogfxtrader
TWITTER
twitter.com/ogfxtrader
FACEBOOK
facebook.com/ogfxtrader
Also on:

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.