$DXY -Room for Growth ?

16 May 2023

DXY has been showing signs of strength after Banks Failures,
printing what seems to be a Double Bottom at 100.8

Despite uncertainty over the Banking Sector,
there is definetely some Room for Growth to 105-106 regarding DXY Dollar Index

Reaching such a target, would put DXY on Major Critical Resistances areas :


- Broken Macro Trendline (in white)
- 0.618 Macro Fibonnaci Level
- 114 High Resistance Trendline (white + dashed line)

(current resistance on *D time-frame DXY will be facing is 200EMA on orange)


Worth mentioning is that DXY seems to been having create a big ranging zone between 100.8 to 105.9
(upcoming idea will be clearer on this range)


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TRADE SAFE

*** Note that this is not Financial Advice !
Please do your own research and consult your own financial advisor before participating on any trading activity based soly upon this idea

16 May 2023

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