DXY In The Parallel Channel
In the previous analysis of Dollar Index, price got rejected and was pushed to the upside after touching the demand level.
In the 4H chart, price is in the descending channel and is approaching to the upper band:
If the channel’s upper band broken out to the upside, we can expect the price to enter the new channel and more rise around 91.4 which is the new channel’s upper band and also a resistance level.
On the other hand, if price gets rejected by the channel’s upper band, we might see a fall again towards the lower band around 90.2
What do you think about DXY?
In the 4H chart, price is in the descending channel and is approaching to the upper band:
If the channel’s upper band broken out to the upside, we can expect the price to enter the new channel and more rise around 91.4 which is the new channel’s upper band and also a resistance level.
On the other hand, if price gets rejected by the channel’s upper band, we might see a fall again towards the lower band around 90.2
What do you think about DXY?
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