DXY H4 LONG PRICE ACTION FORECAST

The dollar index has shown a steady recovery from its lower recorded on the 10th, helping to connect the trendline from the W1 realm. As currently showing some exhaustion from D1 with a kind of Doji candle.

A price correction to the confluence level where the previous resistance level meets with the trendline can be considered as a good spot for a long entry.

Fundamentally speaking, the US economy keeps showing resilience, yesterday Philly Fed Manufacturing Index rose to 27.5 beatings all the odds from the investors and the forecasted-23.0.

The order:
Type: buy-limit.
S/L: 36 pips - R:R | 1:3
T/P: target strong support level form D1