DXY approaching resistance, potential to drop!
DXY is approaching its resistance at 90.47 (100% Fibonacci extension x2, horizontal swing high resistance) where a strong reaction could occur, causing price to potentially fall to its 1st support at 89.52 (61.8% Fibonacci extension, 100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support). We have also identified another resistance area at 91.01 (61.8% Fibonacci extension, L T 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance)
Stochastic (89, 5, 3) shows it testing its resistance at 96.6% where a corresponding reaction could occur.
Stochastic (89, 5, 3) shows it testing its resistance at 96.6% where a corresponding reaction could occur.
Trade closed: target reached
Yay! DXY dropped down nicely to our support. Hope you guys managed to get in on this one!
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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.