Skeptic | DXY Showdown: Battle at 104.403Welcome back, guys! 👋I'm Skeptic
Today, we're diving deep into the DXY (U.S. Dollar Index), analyzing key levels and potential triggers.
🔍 Recap & Current Structure:
As highlighted in our previous analysis , the major daily support (0.618 Fib) held strong at 103.303 , with price reacting precisely at this level.
Currently, the DXY is testing a critical 4H resistance at 104.403 , which aligns with:
A 4H consolidation range breakout zone
A potential fakeout trap if price fails to sustain momentum
The RSI (65.92) suggests building bullish momentum, but confirmation requires a clean break above 104.403.
📈 Bullish Scenario (Long Setup):
Trigger: Break & close above 104.403
Confirmation: RSI holding above 65.92
Invalidation: Rejection + close back below 104.000
📉 Bearish Scenario (Short Setup):
Trigger: Rejection at 104.403 + drop below 103.936
Confirmation: RSI reversal below 50 + bearish 4H candle close
⚠️ Key Notes:
Fundamentals: Recent economic data favors dollar weakness—trade longs cautiously.
Risk Management: Avoid overleveraging—wait for confirmed breaks.
Stay sharp, and I’ll see you in the next analysis!