SMC trading point update
Technical analysis of U.S. Dollar Index (DXY) on the 30-minute timeframe, with the price respecting a clear downtrend and repeatedly rejecting a resistance zone near the 200 EMA.
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Analysis Breakdown
Key Technical Elements:
1. Downtrend Structure:
The price remains within a descending channel.
Multiple lower highs and lower lows signal sustained bearish pressure.
2. Resistance Zone:
Highlighted near 98.490–98.495, aligned with the EMA 200.
Multiple rejections from this level (indicated by red arrows), confirming strong supply.
3. EMA 200 (98.490):
Acts as dynamic resistance.
Price is below it, reinforcing the bearish bias.
4. Projected Move:
Bearish price path targets the 97.189 level (target point).
A measured move of approximately -1.30% is illustrated.
5. RSI (14):
RSI currently at 46.27, below the neutral 50 mark.
This confirms bearish momentum without being oversold, leaving room for further downside.
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Bearish Thesis:
Repeated failure to break above key resistance + downward channel + RSI weakness suggests a continuation to the downside.
Short-term consolidation expected before breakdown continuation.
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Trade Idea Concept:
Entry: Sell on a minor pullback near resistance (~98.300–98.490), or breakdown below the recent minor support.
Target: 97.189 zone.
Stop Loss: Above 98.500 or EMA 200 to invalidate the bearish setup.
Mr SMC Trading point
Risks to Watch:
A break and strong close above 98.500 would invalidate the bearish structure and could initiate a trend reversal.
Economic events (noted by calendar icons) may trigger volatility – ideal to monitor closely around those times.
plesse support boost 🚀 this analysis)
Technical analysis of U.S. Dollar Index (DXY) on the 30-minute timeframe, with the price respecting a clear downtrend and repeatedly rejecting a resistance zone near the 200 EMA.
---
Analysis Breakdown
Key Technical Elements:
1. Downtrend Structure:
The price remains within a descending channel.
Multiple lower highs and lower lows signal sustained bearish pressure.
2. Resistance Zone:
Highlighted near 98.490–98.495, aligned with the EMA 200.
Multiple rejections from this level (indicated by red arrows), confirming strong supply.
3. EMA 200 (98.490):
Acts as dynamic resistance.
Price is below it, reinforcing the bearish bias.
4. Projected Move:
Bearish price path targets the 97.189 level (target point).
A measured move of approximately -1.30% is illustrated.
5. RSI (14):
RSI currently at 46.27, below the neutral 50 mark.
This confirms bearish momentum without being oversold, leaving room for further downside.
---
Bearish Thesis:
Repeated failure to break above key resistance + downward channel + RSI weakness suggests a continuation to the downside.
Short-term consolidation expected before breakdown continuation.
---
Trade Idea Concept:
Entry: Sell on a minor pullback near resistance (~98.300–98.490), or breakdown below the recent minor support.
Target: 97.189 zone.
Stop Loss: Above 98.500 or EMA 200 to invalidate the bearish setup.
Mr SMC Trading point
Risks to Watch:
A break and strong close above 98.500 would invalidate the bearish structure and could initiate a trend reversal.
Economic events (noted by calendar icons) may trigger volatility – ideal to monitor closely around those times.
plesse support boost 🚀 this analysis)
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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.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.