DXY Potential Bullish Reversal – Target 99.456 🎯
Technical Analysis Overview:
🔹 Trend Structure:
The chart illustrates a recent downtrend, which has been broken as price moved above the descending trendline, signaling a potential trend reversal.
🔹 Pattern Insight:
A bullish harmonic pattern is visible (possibly a bullish Bat or Gartley), with the price reacting from the PRZ (Potential Reversal Zone), aligning with key support near 96.500. The market has respected this zone multiple times, evident from the orange highlighted circles showing price rejections.
🔹 Support & Resistance:
Support Zone: ~96.500
Breakout Zone: ~96.985 (current consolidation near this resistance)
Target Zone: Marked at 99.456, which aligns with previous structure and fib projection.
🔹 Market Sentiment:
Price is consolidating after breaking the downtrend, forming a bullish rectangle (accumulation). The green arrows indicate bullish intent from buyers defending support levels.
🔹 Price Action Signal:
Formation of higher lows.
Break of structure and close above previous highs.
Possible breakout pending above consolidation box.
📊 Conclusion:
DXY shows bullish potential as it builds a base around strong support. A confirmed breakout above the rectangle could fuel a rally toward 99.456. Keep an eye on volume and confirmation candles for entry. ✅
Technical Analysis Overview:
🔹 Trend Structure:
The chart illustrates a recent downtrend, which has been broken as price moved above the descending trendline, signaling a potential trend reversal.
🔹 Pattern Insight:
A bullish harmonic pattern is visible (possibly a bullish Bat or Gartley), with the price reacting from the PRZ (Potential Reversal Zone), aligning with key support near 96.500. The market has respected this zone multiple times, evident from the orange highlighted circles showing price rejections.
🔹 Support & Resistance:
Support Zone: ~96.500
Breakout Zone: ~96.985 (current consolidation near this resistance)
Target Zone: Marked at 99.456, which aligns with previous structure and fib projection.
🔹 Market Sentiment:
Price is consolidating after breaking the downtrend, forming a bullish rectangle (accumulation). The green arrows indicate bullish intent from buyers defending support levels.
🔹 Price Action Signal:
Formation of higher lows.
Break of structure and close above previous highs.
Possible breakout pending above consolidation box.
📊 Conclusion:
DXY shows bullish potential as it builds a base around strong support. A confirmed breakout above the rectangle could fuel a rally toward 99.456. Keep an eye on volume and confirmation candles for entry. ✅
JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
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.
JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
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.