Long

DXY Possible Long setup/continuation

Updated

DXY is right at the bottom of an uptrend channel in MTF (D and 4H) + Fibonacci Retracement level 0.5 + Fib Fan level + Support area between 95.8 & 95.6
It can go on a bullish trend until 97.00
We should expect xxxUSD to go short and USDxxx go Long

Note

Dxy bounced from support at 95.7
Possible double bottom and then bullish continuation trend.
xxxusd short and usdxxx long

Note

Possible re-entry for xxxUSD short and USDxxx long.
Double bottom completed, let's see if level holds.

Note

Distribution, no major movements between levels 95.6 and 95.75
Possible W pattern in 1H

Note

Double bottom/W pattern completed (1H chart), price rejected between levels 95.6 and 95.70.
Bullish trend continuation.

Note

DXY pushed down to 95.16 on Rate Decision, this represents a double bottom on 1D chart.

Price continues to go on an uptrend channel, we should expect a small retracement between levels 95.6 and 95.2, then continuation long to at least 96.6.
For next week we should be looking to Sell xxxUSD, Buy USDxxx and Sell Gold to at least level 1300.0

Note

DXY continues to go on a bullish channel.
Looking at 96.8 as TP.

Trade closed: target reached

TP Reached as predicted since the 27th.

rjrf503

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.