DXY ON A BULLISH TRAJECTORY TARGET @ 103.830
Updated
The dollar climbed to the strongest level in two months as former President Donald Trump defended proposals to raise tariffs on imports dramatically. The Dollar Index rose as much as 0.3% on Tuesday as the Republican candidate cited potential trade policies with economies including Mexico, Europe and China in an interview with Bloomberg News Editor-in-Chief John Micklethwait. following those remarks this is my conclusion
The current market is on a Bullish trajectory after bouncing from a strong support zone at around 101.996. If the price continues its upward momentum, it could target the unmitigated zone near 104.200 and possibly tp2 near 104.535. However, watch for any reversal signals at these resistance levels, as they could indicate a pullback.
Key Levels
Reversal at 101.996 marks the bottom where the price reversed and started to climb.
Unmitigated Zone @ 101.870: This is a level where a previous imbalance or demand zone was left untested by the price, now acting as a potential support.
tp1 @ 103.830: soon the zone will be mitigated
Unmitigated Zone @ 104.200 is another untested supply zone where the price might face resistance.
tp2 @ 104.535: The second take-profit level, this area is my future unmitigated zone a possible price target if the bullish momentum continues.
The current market is on a Bullish trajectory after bouncing from a strong support zone at around 101.996. If the price continues its upward momentum, it could target the unmitigated zone near 104.200 and possibly tp2 near 104.535. However, watch for any reversal signals at these resistance levels, as they could indicate a pullback.
Key Levels
Reversal at 101.996 marks the bottom where the price reversed and started to climb.
Unmitigated Zone @ 101.870: This is a level where a previous imbalance or demand zone was left untested by the price, now acting as a potential support.
tp1 @ 103.830: soon the zone will be mitigated
Unmitigated Zone @ 104.200 is another untested supply zone where the price might face resistance.
tp2 @ 104.535: The second take-profit level, this area is my future unmitigated zone a possible price target if the bullish momentum continues.
Trade closed: target reached
target reached for aggressive traders they can mitigate the extreme premium zone as we have just seen US retail sales up 0.4% in September as per the data just released means Dxy still we be bullish until it reaches our extreme premium zone but for now lets just close the 1 TP.
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