Dollar Index (DXY): Consolidation Continues ๐ธ
https://www.tradingview.com/x/XMrjV3fQ/
Dollar Index in consolidating within a horizontal trading range on a daily.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above 102.85 resistance on a daily,
I will expect a bullish continuation to 103.3 area.
Bearish Scenarios
If the price breaks and closes below 101.35 support,
a bearish movement will be expected to 100.6 level.
As always, the best strategy to follow is to wait for a breakout.
For now, it feels like the market will keep staying within the range though.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
Dollar Index in consolidating within a horizontal trading range on a daily.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above 102.85 resistance on a daily,
I will expect a bullish continuation to 103.3 area.
Bearish Scenarios
If the price breaks and closes below 101.35 support,
a bearish movement will be expected to 100.6 level.
As always, the best strategy to follow is to wait for a breakout.
For now, it feels like the market will keep staying within the range though.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
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