DXY Technical Analysis: Can it sustain it’s bullish momentum?
Talking Points:
The DXY is maintained its bullish momentum after bearish trendline channel and not changed from our last post. Testing its resistance level now at 98.00. Break of this level will expose next resistance level at 98.46 followed by 99.29. Alternatively, move below the 96.80 will test next support zone at 96.29.
Elliottwave perspective we support this bullish momentum in immediate near term future, and predicting primary for flat correction or triangle formation for wave 4. On alternate, this move already in move for wave 5. In both cases, we are bullish for dollar and believe it will be continue for near future.
- DXY Technical Strategy: Bullish
- Support: 96.80, 96.29, 95.55
- Resistance: 98.46, 99.66, 100.34
The DXY is maintained its bullish momentum after bearish trendline channel and not changed from our last post. Testing its resistance level now at 98.00. Break of this level will expose next resistance level at 98.46 followed by 99.29. Alternatively, move below the 96.80 will test next support zone at 96.29.
Elliottwave perspective we support this bullish momentum in immediate near term future, and predicting primary for flat correction or triangle formation for wave 4. On alternate, this move already in move for wave 5. In both cases, we are bullish for dollar and believe it will be continue for near future.
-- By Hoagtrading.com (Twitter: @Hoagtrading)
