U.S Dollar Technical analysis.The image is a technical analysis chart of the U.S. Dollar Index (DXY) on the 1-hour timeframe from TradingView. Here’s what it represents:
Downtrend Line: A blue trendline shows a previous downward trend.
Support Zone: A purple rectangular box highlights a support level around 103.654–103.363.
Breakout and Retest: The price appears to have broken out of the downtrend and is forming a potential bullish setup.
Projected Move: A blue arrow suggests a bullish breakout after a possible retest of the support zone.
Target Level: The projected upside target is approximately 105.204.
Economic Event Indicators: U.S. flag icons at the bottom suggest upcoming fundamental events that might impact the price.
This analysis suggests that traders anticipate a reversal from the support zone, aiming for higher price levels. Let me know if you need further insights!