kfrivaldo
Long

DXY Weekly Analysis April 3rd - 7th

TVC:DXY   U.S. Dollar Currency Index
34 views
1
34 0
On a weekly time frame, the last candle formed a bullish engulfing pattern and right at the H&S's neckline. It is premature to say that the H&S formed is already busted but the 200 SMA and trendline are still intact which suggests that we are still in uptrend. In addition, it has also pierced above 100.20 where it acts as a strong resistance level in several occasions.

On a daily time frame, the recent bullish momentum may come to a halt if the market cannot break above 100.56 which is the 50% fibonacci retracement . A break above it will potentially test the 100.96 level (61.8%). Another observation is that the 200SMA recently acted as a dynamic support where price rejects further down turn just right after last Monday's gap down.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out