The 
DXY has been trapped in a descending channel for several weeks showing persistent bearish momentum However recent price action is showing signs of a shift in sentiment
Trend-line Break We've now broken above the short-term descending trend-line signaling a potential reversal
Consolidation Zone Price has been ranging between the 98.800 - 100.000 levels forming a base for a potential push higher
Key Levels to Watch
Immediate resistance 100.400 (break and close above could trigger strong bullish momentum)
Mid-term target 101.300
Psychological target: 102.800
Two possible scenarios
Bullish Breakout: A strong breakout above 100.400 could lead to a swift move toward 102.800 especially if momentum increases and the dollar gains strength
Short-term pullback If rejection occurs at 100.396 we may see a retest of the 99.197 or even 98.877 support zone before bulls regroup
Conclusion The bias is shifting to bullish as the structure evolves Keep an eye on the 100.396 resistance – a decisive move above it may unlock fresh upside potential for the dollars
Thank you for your continued support! Your likes and comments genuinely motivate me to keep delivering high-quality analysis and insights
Grateful to have you along for the journey
TrendLinford!
DXY has been trapped in a descending channel for several weeks showing persistent bearish momentum However recent price action is showing signs of a shift in sentimentTrend-line Break We've now broken above the short-term descending trend-line signaling a potential reversal
Consolidation Zone Price has been ranging between the 98.800 - 100.000 levels forming a base for a potential push higher
Key Levels to Watch
Immediate resistance 100.400 (break and close above could trigger strong bullish momentum)
Mid-term target 101.300
Psychological target: 102.800
Two possible scenarios
Bullish Breakout: A strong breakout above 100.400 could lead to a swift move toward 102.800 especially if momentum increases and the dollar gains strength
Short-term pullback If rejection occurs at 100.396 we may see a retest of the 99.197 or even 98.877 support zone before bulls regroup
Conclusion The bias is shifting to bullish as the structure evolves Keep an eye on the 100.396 resistance – a decisive move above it may unlock fresh upside potential for the dollars
Thank you for your continued support! Your likes and comments genuinely motivate me to keep delivering high-quality analysis and insights
Grateful to have you along for the journey
TrendLinford!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.