Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📉 As per my last analysis, attached on the chart, DXY rejected the upper bound of the red channel and traded lower.
Currently, DXY is hovering around the lower red trendline acting as a non-horizontal support.
📈 For the bulls to take over, and start the next impulse that would lead to 105.2, a break above the last major high in blue is required.
📉 Meanwhile, DXY would be bearish and can still break the red trendline downward, in this case a continuation till the 103.0 support would be expected.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📉 As per my last analysis, attached on the chart, DXY rejected the upper bound of the red channel and traded lower.
Currently, DXY is hovering around the lower red trendline acting as a non-horizontal support.
📈 For the bulls to take over, and start the next impulse that would lead to 105.2, a break above the last major high in blue is required.
📉 Meanwhile, DXY would be bearish and can still break the red trendline downward, in this case a continuation till the 103.0 support would be expected.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich