US Dollar Index (DXY) – 4H Chart Analysis
**Current Trend:** Bearish
Price trades below EMAs, Ichimoku Cloud, and within a bearish channel.
#**Bearish Scenario (Favorable)**
* **Conditions:**
* Price remains below EMA 7 & 21
* Stays under Ichimoku Cloud and 96.812 resistance (R1)
* Lower lows forming, bearish momentum increasing
* **Confirmation:**
Break below **96.37 (blue zone)**
* **Target:**
* TP1: 96.00
* TP2: 95.60 (next weak support)
**Bullish Scenario (Reversal)**
* **Conditions:**
* Price must break above **96.81 (EMA 7 + resistance)**
* Break above **R1 → 96.90**, and then above **R2 → 97.14–97.19**
* Bullish candles close above the Ichimoku cloud
* **Confirmation:**
Break and retest of **97.20**
* **Target:**
* TP1: 97.39
* TP2: 97.58 (key structure)
* TP3: 98.00 (major resistance)
**Bias:** Bearish unless DXY breaks above **97.20** with strong volume and bullish structure.
**Current Trend:** Bearish
Price trades below EMAs, Ichimoku Cloud, and within a bearish channel.
#**Bearish Scenario (Favorable)**
* **Conditions:**
* Price remains below EMA 7 & 21
* Stays under Ichimoku Cloud and 96.812 resistance (R1)
* Lower lows forming, bearish momentum increasing
* **Confirmation:**
Break below **96.37 (blue zone)**
* **Target:**
* TP1: 96.00
* TP2: 95.60 (next weak support)
**Bullish Scenario (Reversal)**
* **Conditions:**
* Price must break above **96.81 (EMA 7 + resistance)**
* Break above **R1 → 96.90**, and then above **R2 → 97.14–97.19**
* Bullish candles close above the Ichimoku cloud
* **Confirmation:**
Break and retest of **97.20**
* **Target:**
* TP1: 97.39
* TP2: 97.58 (key structure)
* TP3: 98.00 (major resistance)
**Bias:** Bearish unless DXY breaks above **97.20** with strong volume and bullish structure.
Trade active
📌 **DXY Sell Trade Update**❌ **Trade Outcome: Loss**
* entered a **sell** while DXY was bearish.
* However, price **broke above key resistance (97.20)** and confirmed a **bullish reversal**.
* **sell setup got invalidated** as:
* Price moved **above EMA 7/21**
* **Ichimoku Cloud break**
* Strong **bullish momentum** continued to **97.30**
🔄 **Current Market Structure: Bullish**
* ✅ Reversal confirmed above **97.20**
* 🎯 Bullish targets now:
* **TP1:** 97.58
* **TP2:** 98.00
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**What to Do Now**
* **Exit any remaining sell** (if not already stopped out).
* Watch for a **pullback to 97.20–97.25** to **enter buy** with trend.
Trade closed: target reached
DXY UpdateThe **bullish breakout scenario played out successfully**, with the **Dollar Index (DXY)** rallying to **98.650**, just shy of the **98.800 target zone**.
Quick Recap of the Bullish Setup
* **Breakout confirmed** above key level (97.400 & EMA zone
* **Target 1 (98.800)**: Almost reached → **98.650 hit**
* **Strong momentum** supports further upside
Next Bullish Levels to Watch:
* **Target 1:** 98.800 (likely to be tested soon)
* **Target 2:** 99.200–99.400 (mid-term zone)
* **Extended Target:** 100.000+ (psychological resistance)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.