Since early February, right after Trump’s inauguration, the USD Index (DXY) has been under pressure, falling sharply by over 10%.
However, after hitting the 98.00 level, things seem to have stabilized. We're seeing the early signs of a relief rally.
🔍 Technical Perspective:
- This week’s candlestick pattern suggests a bullish reversal.
- The dip on Wednesday was quickly bought, showing buyer interest.
- A minor correction occurred yesterday, but dips are being well supported.
- Currently, the DXY trades around 99.60, just under the psychological level of 100.
🎯 Outlook:
As long as 98 remains intact, the bias shifts towards a potential rebound.
First target: 102 – a logical resistance zone and prior support.
This is not yet a confirmed trend reversal, but the price action is shifting. The key now is how the market reacts around the 100 level. A break above could trigger further bullish momentum.
However, after hitting the 98.00 level, things seem to have stabilized. We're seeing the early signs of a relief rally.
🔍 Technical Perspective:
- This week’s candlestick pattern suggests a bullish reversal.
- The dip on Wednesday was quickly bought, showing buyer interest.
- A minor correction occurred yesterday, but dips are being well supported.
- Currently, the DXY trades around 99.60, just under the psychological level of 100.
🎯 Outlook:
As long as 98 remains intact, the bias shifts towards a potential rebound.
First target: 102 – a logical resistance zone and prior support.
This is not yet a confirmed trend reversal, but the price action is shifting. The key now is how the market reacts around the 100 level. A break above could trigger further bullish momentum.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.