Index/US) Bearish trend analysis Read The caption)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.
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