SasanSeifi| Mid-Term Bearish Outlook for Dollar Index! (5Day)

Hey there, In the 5-day long-term timeframe, the DXY faced a correction from the supply zone around $106.500. After some minor fluctuations within this range, the price, failing to stabilize above the $106 level, encountered a renewed downtrend from the bearish order block. Currently, a strong bearish momentum is observed, and the midterm outlook remains predominantly bearish.

It is expected that, in the midterm timeframe, the price will move toward the identified demand zone, with a potential decline to the corrective target around $99 to $98.73, especially after breaking the $100.600 to $100 range. Once this area is reached, there is a possibility of a positive price reaction. To better understand the future movement of the Dollar Index, it's crucial to closely monitor how the price reacts to these corrective targets. However, if the downtrend continues and the $98 level is breached, and the price stabilizes below it, the next corrective target could be around $97.50 to $96.

To better understand the future movement of the Dollar Index, it's essential to keep a close watch on how the price reacts to these corrective targets.
💢 Please remember that this is just my personal viewpoint and should not be taken as investment advice. I’d love to hear your thoughts and share opinions!

Happy trading!✌😎
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌