Us30 bullish outlook amidst DXY weakness
the us30 is currently exhibiting a bullish trend on daily timeframe. Notably, on the 4h chart, the index is forming a double bottom pattern, indicating a potential reversal. the market has reached a significant support level for the second time, and we are anticipating further rejection signals before confirming long positions. this bullish outlook is further supported by the observed weakness in the dxy, which historically has an inverse relationship with the us30, adding confidence to our bullish bias.
Key points:
-daily timeframe: clear bullish trend.
-4h chart: formation of double bottoms.
-support level: reached for the second time, waiting for rejection confirmations.
-DXY influence: weakness in the DXY supports the bullish outlook for the us30.
Key points:
-daily timeframe: clear bullish trend.
-4h chart: formation of double bottoms.
-support level: reached for the second time, waiting for rejection confirmations.
-DXY influence: weakness in the DXY supports the bullish outlook for the us30.
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.