U.S. Dollar IndexShort
Here’s an analysis of the DXY on the 1-hour chart,
Here’s an analysis of the DXY on the 1-hour chart, with your updated target of 107.100:
Current Analysis
Trend Overview:
The dollar index (DXY) is in a clear downtrend on the 1-hour chart, forming lower highs and lower lows.
Momentum indicators like RSI are likely staying below 50, reinforcing bearish sentiment.
Key Resistance Zone (108.100):
This is the potential sell zone, where the price may face rejection.
Look for a bearish candlestick pattern at or near this level (e.g., shooting star, evening star, bearish engulfing) to confirm the entry.
Support Zones on the Path to 107.100:
Intermediate Support 107.500: DXY might consolidate or bounce slightly here, as it's a possible reaction point.
Final Target 107.100: This aligns with a major support level from prior price action or Fibonacci retracement zones.
Indicators to Watch
RSI:
If RSI is below 40, it confirms strong bearish momentum.
Any divergence (e.g., higher low on RSI while price makes a lower low) near 107.500 or 107.100 could signal weakening downside momentum.
MACD:
Look for a bearish crossover (MACD line crossing below the signal line) as confirmation to enter or hold the trade.
Volume:
A spike in volume near resistance (108.100) supports rejection. Similarly, decreasing volume near the target (107.100) could indicate trend exhaustion.
Trade Setup for 1-Hour Chart
Sell Entry: Around 108.100 (resistance zone).
Take Profit (Target): 107.100.
Stop Loss: Around 108.300, slightly above resistance, to account for volatility.
DXY
Current Analysis
Trend Overview:
The dollar index (DXY) is in a clear downtrend on the 1-hour chart, forming lower highs and lower lows.
Momentum indicators like RSI are likely staying below 50, reinforcing bearish sentiment.
Key Resistance Zone (108.100):
This is the potential sell zone, where the price may face rejection.
Look for a bearish candlestick pattern at or near this level (e.g., shooting star, evening star, bearish engulfing) to confirm the entry.
Support Zones on the Path to 107.100:
Intermediate Support 107.500: DXY might consolidate or bounce slightly here, as it's a possible reaction point.
Final Target 107.100: This aligns with a major support level from prior price action or Fibonacci retracement zones.
Indicators to Watch
RSI:
If RSI is below 40, it confirms strong bearish momentum.
Any divergence (e.g., higher low on RSI while price makes a lower low) near 107.500 or 107.100 could signal weakening downside momentum.
MACD:
Look for a bearish crossover (MACD line crossing below the signal line) as confirmation to enter or hold the trade.
Volume:
A spike in volume near resistance (108.100) supports rejection. Similarly, decreasing volume near the target (107.100) could indicate trend exhaustion.
Trade Setup for 1-Hour Chart
Sell Entry: Around 108.100 (resistance zone).
Take Profit (Target): 107.100.
Stop Loss: Around 108.300, slightly above resistance, to account for volatility.
DXY 
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