DXY Bullish Reversal Setup Toward 98.20 Target Entry Point
Marked at: ~97.200
The price has already reacted multiple times around this level, suggesting it's a key support zone.
🛑 Stop Loss
Placed at: ~96.930
Just below the support zone, protecting against a breakdown below recent lows.
This implies a risk of about 27 pips from the entry.
About US DOLLAR CURRENCY INDEX
The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. (DXY) originally was developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies. The following six currencies are used to calculate the index:
Euro (EUR) 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP) 11.9% weight
Canadian dollar (CAD) 9.1% weight
Swedish krona (SEK) 4.2% weight
Swiss franc (CHF) 3.6% weight
Euro (EUR) 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP) 11.9% weight
Canadian dollar (CAD) 9.1% weight
Swedish krona (SEK) 4.2% weight
Swiss franc (CHF) 3.6% weight
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✅Market Implications:
USD
DXY: Strong Bullish Sentiment! Long!
My dear friends,
Today we will analyse DXY together☺️
The price is near a wide key level
and the pair is approaching a significant decision level of 96.899 Therefore, a strong bullish reaction here could determine the next move up.We will watch for a confirmation candle, and then target the ne
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See all ideas
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
US DOLLAR CURRENCY INDEX is just a number that lets you track performance of the instruments comprising the index, so you can't invest in it directly. But you can buy US DOLLAR CURRENCY INDEX futures or funds or invest in its components.