UXY suggesting a medium-term bullish structure.riggering bullisH Awais Ali: 1. Structure & Market Context
Trend Channel: The price action is contained within a clearly defined ascending channel, suggesting a medium-term bullish structure.
Support Zone: A horizontal support area is marked around the 99.00 level, which previously served as a strong demand zone, triggering bullish momentum.
Break of Structure (BOS): A previous significant support level was broken to the downside (noted as “BOS”), indicating a change in market structure at that point. However, the current structure has resumed an upward trend.
2. Trade Setup
Current Price Level: Around 101.39.
Entry Zone: Near the midline of the channel, marked by a slight retracement after a recent high.
Target Zone: Projected at 103.009, suggesting a bullish continuation toward the upper boundary of the ascending channel.
Stop Loss Zone: Below the blue entry box, near 100.481–100.231, indicating a well-defined risk zone.
Risk-Reward: Favorable, with a substantial upside potential relative to the defined stop level.
3. Technical Indicators & Tools
Channel Lines: Used to map the upper and lower bounds of the trend.
Box Zones: Highlight entry and exit zones for trade planning.
Arrow Projection: Suggests a potential price retracement followed by continuation to the upside.
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Professional Interpretation
The chart reflects a bullish outlook on the U.S. Dollar Index, supported by a well-established ascending channel, strong support structure, and a potential correction before continuation. The trader is likely anticipating a bullish reversal from the current retracement area, targeting a new high around 103.00, which aligns with the previous swing level.
This analysis is methodical and uses sound price action principles—ideal for swing traders or short-term position traders seeking directional bias and clear trade execution zones.
Awais Ali: bullish reversal from the current re
