DXY 4H Sell Setup Analysis

2 Apr

This chart represents a bearish setup for the U.S. Dollar Index (DXY) on the 4-hour time frame. Various technical tools and indicators have been applied to support the sell breakdown strategy. Below is a breakdown of the analysis:

1. Key Resistance Zone (Red Box & Blue Line at 104.680)
A strong resistance zone has been identified around 104.680 (blue horizontal line).

This level aligns with the 23.6% Fibonacci retracement of the previous downtrend, making it a significant area where sellers may step in.

The price has failed multiple times to break above this zone, confirming bearish pressure.

2. Bearish Rejection & Trendline Structure (Yellow Trendlines)
The yellow descending trendline indicates a downward trend.

Price formed a rising wedge pattern, which is a bearish reversal structure.

A breakdown from this wedge signals potential further downside movement.

3. Sell Breakdown Confirmation (Gray Label & Arrows)
A sell breakdown label is placed where the price starts breaking the wedge pattern.

Blue arrows suggest a possible price movement towards lower support levels.

4. Key Support Targets (Blue Horizontal Lines at 103.199 & 103.242)
The first target is around 103.199, marked as a major support level.

If price breaks below 103.199, a further decline towards 102.000 - 102.200 is expected.

5. MACD Confirmation (Bottom Indicator)
The MACD (12,26) Histogram shows decreasing bullish momentum, signaling a possible bearish reversal.

Conclusion
Bearish setup is confirmed by:

Resistance rejection at 104.680

Breakdown of the rising wedge pattern

Bearish MACD signal

Targeting support at 103.199 and lower

Trading Strategy:

Sell below 104.138 (current level)

Target: 103.199 - 102.200

Stop-loss above 104.680 (resistance zone)

This setup suggests a high-probability short trade if price sustains below the breakdown level.

3 Apr

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4 Apr

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4 Apr

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8 Apr

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10 Apr

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10 Apr

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11 Apr

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