DXY demanding area to buy it, Read caption for more...Hello fellow traders share your opinions about this setup thanks for your support.
I have prepared this chart and it represents DXY on a 4-hour timeframe, more you can read bellow.
1. Price Channel (Yellow Zone): The price is moving within an ascending channel, indicating a short-term uptrend.
2. Resistance Zone (Red Area) : Positioned near the 110.500 level, this acts as a potential area where the price may face selling pressure.
3. Demand Zone (Green Box): Located around 109.100, this serves as a support level where buyers might step in.
4. Support Zone (Lower Green Box) : Positioned around 107.500, it provides a more significant area of demand.
5. Target Zone (Blue Box): Highlighted as a potential area where the price may rebound to if it bounces off the demand zone.
Shortly the price may be bullish from the current area if not then it has a demand zone between 109.032 to 109.228
Key levels
DXY buy from 109.200- 109.500
Target at 109.850
SL at 108.821
Note; This is for educational purpose not a trading advice.
Kindly support me like comment and share the ideas.
