DXY: Moment of truth on the 105.900 Resistance
The U.S. Dollar Index is rising on an almost overbought 1D technical timeframe (RSI = 69.699, MACD = 0.650, ADX = 30.040) supported by a HL trendline. Following the 1D Golden Cross (first since July 26th 2021), it is now facing the most important Resistance for the long term, R1 at 105.900.
We will go long if a 1D candle closes over it and target the R2 level (TP = 108.000) and sell if rejected and target the 0.382 Fibonacci level (TP = 103.500). It has to be said that the 1D RSI has turned sideways since August 25th. This is a potential sign that the bullish trend is losing strength.
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We will go long if a 1D candle closes over it and target the R2 level (TP = 108.000) and sell if rejected and target the 0.382 Fibonacci level (TP = 103.500). It has to be said that the 1D RSI has turned sideways since August 25th. This is a potential sign that the bullish trend is losing strength.
Prior idea:
## 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
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