DXY - Double Bottom Hints For A Reversal
We previously highlighted that Dollar broke previous support and was heading to below levels. It has tapped below level and now formed a Double Bottom. With the year end profit taking and Trump coming in power next year, we may see a continuous Bull Run.
EMA 50 is also nearing a cross above MA 200 which should confirm this move. A break of support will void the double bottom and open lower levels.
For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management.
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Disclaimer: This content is for educational purposes only and should not be considered financial advice.
EMA 50 is also nearing a cross above MA 200 which should confirm this move. A break of support will void the double bottom and open lower levels.
For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management.
If you found this analysis helpful, please consider boosting and following for more updates.
Disclaimer: This content is for educational purposes only and should not be considered financial advice.
Note
Price is testing support and a sustained break will open lower level. Please be mindful before entring any trades.
Note
support still holding well:
Note
Move to upside near completion.Note
Move completed to upper level.
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