The U.S. Dollar Index has closed the week on a flat 1W candle, the first such since October 2nd 2023 on a marginally bearish 1W technical outlook (RSI = 43.488, MACD = -0.450, ADX = 30.953). The 1W RSI has rebounded on the S1 Zone forming a HL trendline and this gives shape to a Channel Up. This RSI formation is much like the bottom's of 2021 and 2018 as you can see on the chart.
As long as the dotted HL trendline holds, we are long, aiming at the dotter LH trendline (TP = 105.500). If the HL breaks, we will short aiming at the LL trendline (TP = 98.000).
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As long as the dotted HL trendline holds, we are long, aiming at the dotter LH trendline (TP = 105.500). If the HL breaks, we will short aiming at the LL trendline (TP = 98.000).
## If you like our free content follow our profile 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