The US Dollar Index (DXY) may be entering a strong bearish wave. After completing wave B, the market has started impulsive wave C to the downside. Currently, wave 3 might be ending, with a potential short-term bounce for wave 4, followed by a drop into wave 5.
Key Bearish Outlook:
Resistance Zone (Wave 4): 104.924 – 104.932
Invalidation Level: 106.505
Final Wave 5 Target: Near 93.422
If price stays below the invalidation level, more downside is expected. Watch for shorting opportunities if wave 4 completes and reverses.
Key Bearish Outlook:
Resistance Zone (Wave 4): 104.924 – 104.932
Invalidation Level: 106.505
Final Wave 5 Target: Near 93.422
If price stays below the invalidation level, more downside is expected. Watch for shorting opportunities if wave 4 completes and reverses.
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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.