Hello traders, DXY in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
In the daily timeframe analysis, we considered 2 possibilities for the dollar index (falling from the same point or another ascent and then starting the downtrend).
In this analysis, we considered the second possibility.
According to the previous analysis, a decline was made and now the trend is at the bottom of the channel.
In the previous analysis of this descent, we considered one of the microwaves (y) and considered the trend as descending.
But I do not think this microwave motion is from (y) and the x wave is still forming.
It is better to consider a few points. If the downward channel is broken and also the dashed line is broken, the probability of the target we intend to climb is reduced.
But if the buying pressure increases from this point, the price will move to our target.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
In the daily timeframe analysis, we considered 2 possibilities for the dollar index (falling from the same point or another ascent and then starting the downtrend).
In this analysis, we considered the second possibility.
According to the previous analysis, a decline was made and now the trend is at the bottom of the channel.
In the previous analysis of this descent, we considered one of the microwaves (y) and considered the trend as descending.
But I do not think this microwave motion is from (y) and the x wave is still forming.
It is better to consider a few points. If the downward channel is broken and also the dashed line is broken, the probability of the target we intend to climb is reduced.
But if the buying pressure increases from this point, the price will move to our target.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️