Based on the chart provided, here is an analysis for the DXY (U.S. Dollar Index) on the 30-minute timeframe:
### Observations:
1. **Resistance Zone (Blue Area)**:
- The price is approaching a marked resistance zone around 109.000.
- The annotation "wait for bearish confirmation" suggests this level is significant, and traders are looking for signs of reversal (e.g., bearish candlestick patterns or failure to break above).
2. **Key Levels**:
- **109.000**: Strong resistance zone where selling pressure is anticipated.
- **108.600-108.400**: A support zone below, indicated by green shaded areas.
- **107.800**: A major lower support zone, indicating where buyers might step in strongly if the price drops significantly.
3. **Market Structure**:
- **Higher High (HH)**: The price has created a higher high, indicating bullish momentum in the short term.
- **Change of Character (ChoCh)**: Highlighted earlier in the chart, signaling a shift from bearish to bullish structure during the recent recovery.
4. **Potential Scenarios**:
- If the price forms bearish confirmation at the resistance zone (e.g., double top, bearish engulfing), a sell-off might be expected toward the first support level around 108.600.
- If bullish momentum continues and the price breaks and retests above 109.000, it could target higher levels.
### Strategy:
- **For Selling**:
- Wait for bearish confirmation around 109.000.
- Potential targets could be the support zones at 108.600 and 108.400.
- **For Buying**:
- Monitor if the price respects the support zones (108.600-108.400) and shows bullish signs for potential entries.
- If price breaks below these support zones, consider 107.800 as the next key level.
👉JOIN MY TELEGRAM:
Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.
👉JOIN MY TELEGRAM:
Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.