Future Scenarios for the Dollar Index
As you know, the Dollar Index (DXY) impacts all major markets, including Forex, cryptocurrencies, and stocks. Therefore, as a trader, you should always keep an eye on this index 📈.
We are currently at a critical decision-making point for this index. This decision can determine the medium to long-term trend of the Dollar Index.
Support and Resistance Levels
Support: 104
Resistance: 104.4
A small range is forming between these levels, and breaking out of this range can be significant. However, we need a strong candle on the 4-hour timeframe to confirm this move 🕒.
Pattern Formation
A QM pattern is forming on this index in a downward direction. While it hasn't confirmed an entry yet, if we see a strong bearish candle on the 1-hour timeframe, we can consider entering positions on USD pairs 📉.
Risk Management Tips
Remember, risk management is crucial. In financial markets, anything can happen at any moment, and nothing is 100% certain ⚠️.
Categories
Trend Analysis
Support and Resistance
Risk Management
Hashtags
#DollarIndex #Forex #Crypto #Tradecitypro #TCP #MarketAnalysis #SupportAndResistance #RiskManagement #TrendAnalysis
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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.
💥 Don’t Miss Out!
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
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.