U.S. Dollar IndexShort
DXY indicating Down Turn.
DXY 3-Hour Chart Analysis:
A strong downtrend has been observed in the DXY, with the price moving within a parallel channel. The channel's support and resistance lines have been respected, indicating a clear trend.
Currently, a reversal has been detected from the resistance zone, suggesting a move towards the support line. This reversal confirms a sell signal.
Trade Setup:
Sell DXY at 107.900
Take Profit 1: 107.500
Take Profit 2: 107.100
Take Profit 3: 106.700
Stop Loss: 108.300
This trade setup is based on the technical analysis of the DXY chart and the identified downtrend. Traders should exercise caution and consider their risk management strategies before entering this trade.
A strong downtrend has been observed in the DXY, with the price moving within a parallel channel. The channel's support and resistance lines have been respected, indicating a clear trend.
Currently, a reversal has been detected from the resistance zone, suggesting a move towards the support line. This reversal confirms a sell signal.
Trade Setup:
Sell DXY at 107.900
Take Profit 1: 107.500
Take Profit 2: 107.100
Take Profit 3: 106.700
Stop Loss: 108.300
This trade setup is based on the technical analysis of the DXY chart and the identified downtrend. Traders should exercise caution and consider their risk management strategies before entering this trade.
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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.
Join Our Telegram Channel For Getting Signals and Analysis👇👇
t.me/Trade_with_Natasha7
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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.