This chart of the U.S. Dollar Index (DXY) on the 4-hour timeframe shows a strong rejection from the highlighted resistance zone around 109.800–110.000.
Key Observations:
- Rejection at Resistance: Price attempted to break above but faced strong selling pressure, leading to a rejection.
- Possible Downtrend Formation:** The price could now move lower, targeting the 1st target zone (~109.100–109.136) and potentially the **2nd target zone (~107.500–107.480)** if the bearish momentum continues.
- Break of Structure (BoS) & Change of Character (ChoCh): The previous market structure shifts indicate potential reversals, supporting the idea of a bearish move.
Conclusion:
A pullback from resistance suggests a possible downside move. If price fails to reclaim the resistance zone, a sell-off towards the marked targets seems likely. Watch for confirmation near the 1st target to assess continuation or reversal.
Key Observations:
- Rejection at Resistance: Price attempted to break above but faced strong selling pressure, leading to a rejection.
- Possible Downtrend Formation:** The price could now move lower, targeting the 1st target zone (~109.100–109.136) and potentially the **2nd target zone (~107.500–107.480)** if the bearish momentum continues.
- Break of Structure (BoS) & Change of Character (ChoCh): The previous market structure shifts indicate potential reversals, supporting the idea of a bearish move.
Conclusion:
A pullback from resistance suggests a possible downside move. If price fails to reclaim the resistance zone, a sell-off towards the marked targets seems likely. Watch for confirmation near the 1st target to assess continuation or reversal.
Trade active
Congratulation 1st Target achieved Trade closed: target reached
CONGRATULATOINS ALL TARGET ACHIEVED 
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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.