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Hour 1 chart
DXY is below the 93.50 level and trading within a confined range and its in a consolidation range between 93.35 to 93.50.
On breakdown of the either side will decide the next move of the DXY. On overhead 200 EMA and Downward trend line will act as resistance
Hour 4 Chart
After the consolidation phase it has felled below the box and broke the trend line which is acting as support for the bull since September 01.
We can expect retest play here and 200 Exponential moving average is coinciding with the trend line which is double bonus for the bearish trend
Daily chart
In daily chart yesterday its leaved a strong bearish engulfing candle and today it is moving within the previous day candle which is a clear indication of the selling pressure.
It has managed to reach the 94.75 important level and felled below the 94.00 key psychological level and even its broke the .50 Fibonacci and 93.75 key level which was previously expected to be a strong support level
93.5 level will act as support zone for the bearish trend
Disclaimer
Its a forecast of the next expected moves Not a financial advice
Hour 1 chart
DXY is below the 93.50 level and trading within a confined range and its in a consolidation range between 93.35 to 93.50.
On breakdown of the either side will decide the next move of the DXY. On overhead 200 EMA and Downward trend line will act as resistance
Hour 4 Chart
After the consolidation phase it has felled below the box and broke the trend line which is acting as support for the bull since September 01.
We can expect retest play here and 200 Exponential moving average is coinciding with the trend line which is double bonus for the bearish trend
Daily chart
In daily chart yesterday its leaved a strong bearish engulfing candle and today it is moving within the previous day candle which is a clear indication of the selling pressure.
It has managed to reach the 94.75 important level and felled below the 94.00 key psychological level and even its broke the .50 Fibonacci and 93.75 key level which was previously expected to be a strong support level
93.5 level will act as support zone for the bearish trend
Disclaimer
Its a forecast of the next expected moves Not a financial advice
Trade active:
In H1,H4 charts DXY managed to spike above the trend line we can expect a trend reversal here
