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Dollar-index

DOLLAR: Possible Correction ComingWelcome to this new trading idea! We are looking at the 15min chart of the Dollar Currency Index. Price did nearly touch last highs. Looking at the daily timeframe we can see that price consolidates a lot in this area. Also there is a wick candle forming for today. Getting back to our 15min chart, price retraced and made a peak high with divergence on our RSI. After that we are looking for shorts only by keeping in mind that there are new highs above the daily consolidation zone. There is no trade for us in this currency now. But looking on the Dollar in terms of correlation always helps to determine different moves of other pairs. Example: EUR/USD is also on its very bottom, where i would love to see a retrace also. Keep in mind that tomorrow the monthly candle will close. Wishing everyone a great upcoming weekend!
TVC:DXYShort
by darian_fx
3
DXY Approaching support , Prepare For A bounce DXY is approaching its support at 97.03 (horizontal swing low support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement ) where it could bounce to its resistance at 97.69 (100% Fibonacci extension, horizontal swing low support). Stochastic (34, 5, 3) is approaching its support at 5% where a corresponding bounce is expected. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:DXYShort
by Klimex
1