DXY Buy opportunity approaching at the bottom of this Channel.
The U.S. Dollar Index (DXY) has been trading within a Channel Down pattern since the May 01 High, which is a technical Bearish Leg inside the long-term Channel Up structure. The price is already very close to the bottom of the Channel Down and with the previous Bearish Leg completing a -2.36% decline, we believe this is the right time to buy again on the short-term.
The last mini-rally completed a +2.14% rise so, expecting a similar development, we will target 105.800 (top of the Channel Up on a +2.14% Bullish Leg).
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The last mini-rally completed a +2.14% rise so, expecting a similar development, we will target 105.800 (top of the Channel Up on a +2.14% Bullish Leg).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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