DXY has been trading within a very long term Channel Up on 1M since May 2018 (RSI = 56.323, MACD = 0.620, Highs/Lows = 0.0491). The standard setting of Higher Highs and Higher Lows on the 1D MA50 and MA200 periods has been very helpful in recognizing early buy and sell entries as it happened on our latest analyses:
As the moment and following the Higher High on the Inner Higher High trend line (dashed line), the price is pulling back having already crossed the 1D MA50 (blue line). This is similar to the December 2018 - January 2019 sequence that eventually made contact with the 1D MA200 (orange line) and rebounded. We are expecting a similar price action this time also. Our Target Zone is again 99.50 - 99.80.
On a side-note, attention is required once the price hits 100.00 as last time DXY traded on that level was late April 2017. Upon contact we will follow up with an update for a longer term strategy on this one.
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As the moment and following the Higher High on the Inner Higher High trend line (dashed line), the price is pulling back having already crossed the 1D MA50 (blue line). This is similar to the December 2018 - January 2019 sequence that eventually made contact with the 1D MA200 (orange line) and rebounded. We are expecting a similar price action this time also. Our Target Zone is again 99.50 - 99.80.
On a side-note, attention is required once the price hits 100.00 as last time DXY traded on that level was late April 2017. Upon contact we will follow up with an update for a longer term strategy on this one.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
