Dollar Index: Potential rebound points. Near 100 target.
DXY has been trading within a long term 1M Channel Up (RSI = 58.550, MACD = 0.590, Highs/Lows = 0.6224) since May 2018. The pace has been very steady and the High - Low signals clear. The price mostly traded on the inner channel with the 1D MA50 and MA200 coming to support the next rise to a Higher High.
We are currently pulling back from such a Higher High and the two potential rebound points are the MA periods and to a lesser extent (as it was only needed two times in the past year) the outer Higher Low of the 1M Channel Up.
The targeted zone is 99.50 - 99.80 as suggested by the Low-to-High sequence.
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We are currently pulling back from such a Higher High and the two potential rebound points are the MA periods and to a lesser extent (as it was only needed two times in the past year) the outer Higher Low of the 1M Channel Up.
The targeted zone is 99.50 - 99.80 as suggested by the Low-to-High sequence.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
