$DXY - Middle Range Warzone (100-105)

١٩ أغسطس ٢٠٢٣

- DXY has had a vertical rally from its fake-out breakdown of Range,
finding Support at 200EMA and got back to the Middle Zone Range S/R of 103 level.
The last idea published when DXY broke the range to the downside
(DXY -Headed South 97) played out in the opposite way of forecast expectation.
Eerie similar bars pattern move but on North direction, not South. (press play for bars)

With DXY currently closing the week at 103.4 level,
looking for short-term weakness next week to correct a bit from the Rally starting
from 99.6 to 103.


Next Resistances to look out for ;
- previous Macro LH @104.7
- Range's Ceiling 105.9
- Strong Resistance level at Macro Fibbonacci taken from 114 High to 100.8 Range Low
(0.618 Golden Zone @ 106.1)


Clearing these upcoming Resistances,
would put DXY clear bullish territory for the rest of 2023 and 2024.
Trouble times ahead for Financial Markets in this case scenario,
especially when combined with the Chinese Real-Estate Panic that just started on Friday with
Evergrande declaring bankruptcy





TRADE SAFE !
*** Note that this is not Financial Advice .
Please do your own research and consult your own Financial Advisor
before partaking on any Trading Activity based solely on this Idea !