Dxylong
dxyso on the smaller time frame dxy created a double bottom im looking for a retest of a 5min ob and also if you look closely theres a fair value gap in that same area if that area holds we can see a bullish ny session for dxy most likely im still bearish dxy this is just a pull back for the next real move
dxy up or downa niceeeeee down move giving you direction on all the other dxy pairs but this dollar weakness could be coming to a pause as it approaches this key level
now with that being said it could just break down at this level and go fill that fair value gap and cause a nice up move for gold
we have to see how price develops here but it is a point of intrest everyone should be watching
DXY is facing key support zoneSince the end of September, Dxy has had 3 attempts to conquer 114 figure and failed each time.
On Monday the index broke down the rising trend line that kept price elevated since August and an aggressive drop followed.
At this moment the price hovers above the support area (108-109 zone) and a resumption to the up move can follow.
Dips against 107.50 should be bought for a rise towards 112.
Long the deep?Chart showing us we have a strong support in 109 zone in daily weekly and hourly channel
While btc have strong resistance between 20500 to 21K
And over bought the best chance is short btc from 20600 zone with stop loss of 109 in DXY
*never forget that market is unpredictable*
** dxy is over sold hardly in all TIME zones**
DXY Ready to fly Againas you can see DXY is on the button of the uptrend channel and it will fly again, all stocks and crypto will bleed, do not hurry in opening a long position, and if you have any try to close .
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DXY Showing Signs Of A Trend Reversal?Happy Friday all. DXY, printing a right angled triangle, and the ROC printing a clear triangle. If DXY continues lower below triangle support, target could be 104, and this should send cryptos and currencies higher over the weekend. Triangle could indicate a resistance breakout too however, where target would be nearer 119.
DXY remains extremely strongIn my previous DXY analysis I said that 113 should provide strong resistance and a drop from here is probable.
Although we indeed has a drop, this was short-lived and didn't reach my 110 target and reversed from the ascending trend line indicating that bulls are not done yet.
Now the price is again close to this resistance and the Morning Star candle formation combined with yesterday's Pin Bar gives us an indication of upside pressing and imminent upbreak.
Confirmation for this bullish outlook comes with a break above 113 and, considering the 400 pips base of the symmetrical triangle, the target can be around 117.
A break under recent low would put a pause in this bullish scenario.