Short

DXY Further Bearish confirmation. Target 92.500.

My most recent post on DXY was on September 29, identifying the Bullish Megaphone which was trading on its Higher Highs (top) trend-line on a potential rejection:

DXY Approaching the top of a familiar Megaphone.

The rejection eventually happened and today the price broke below the 4H MA200 (orange trend-line). The last 2 times this took place following a Higher Highs rejection, the price eventually dropped lower and made a Higher Low at the bottom of the Megaphone. On both occasions, it reached at least the 0.786 Fibonacci retracement level. That is currently at 92.500 and this is our next medium-term target.

--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------

TradingShot

👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)

💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot

🔥New service: next X100 crypto GEMS!

Also on:

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.

TradingShot

Also on: