Dxyidea
DXY Downlink formationDXY Downlink formation
Tipping point with down channel seduction
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DXY possible drop!!DXY ( 4h) has broken the support to the downside and opened with a gap down today. The price is just below daily support and 20EMA. As there is head and shoulder on the daily, There is a possibility of dropping the price to the downside to monthly support. As the monthly candle close, we could drastically drop as per price action formation.
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GOING LONG ON DXY. LONG TERM SWINGSpeculations with respect to technical analysis is seen that DXY has prospect of going bull,
$100 and $98 is seen as the nice entry for a bullish run,
TP @ $114
DISCLAIMERS
This is not a financial advice.
Trade with caution.
Use Proper Risk Management.
Martin I. Sylvester
Financial Market Analyst
#DXY is giving us a hint for the upcoming move in the market.I'll keep it short and simple.
Overextended rally in DXY adding up to bearish divergence in RSI and similar fractals are indicating a rejection at the current level.
Rising wedge channels are normally bearish in nature. A reversal candle will trigger the move and eventually, the traditional market will move along with Crypto Market.
The index must close below the red MA for the final confirmation.
Although we are at a decisive point, the patterns are indicating a potential bearish move.
Invalidation:- Break and close above the upper resistance trendline will invalidate the chart.
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