Trading Ideas on the DXY Selloff

30 במרץ 2022

The DXY has slumped as the Euro has gained due to the fact that there are talks of Ukraine being offered 'neutrality'. This has impacted the DXY and invalidated our bull wedge pattern. We have tested lows at 97.89, and 97.73 where we have found support. These levels should hold and may be a great idea for a long trade, as one could consider a narrow stop below current levels and potentially set 98.22 and 98.82 as a potential profit target. We have a dense patch of levels below us to provide support including 97.62, and 97.47.