DXY ((US DOLLAR INDEX): Important Confluence Zone Below!
DXY is currently at a point where a horizontal intraday support and a rising trend line intersect, forming a confluence zone.
To enter a long position with confirmation, look for a double bottom pattern on a lower time frame. If the price breaks above the neckline and closes, a bullish trend towards 104.72 can be anticipated.
On the other hand, if the market breaks below this confluence zone and closes below it on an intraday basis, it could signal a strong bearish movement with potential for further downside.
To enter a long position with confirmation, look for a double bottom pattern on a lower time frame. If the price breaks above the neckline and closes, a bullish trend towards 104.72 can be anticipated.
On the other hand, if the market breaks below this confluence zone and closes below it on an intraday basis, it could signal a strong bearish movement with potential for further downside.
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