King Dollar Reigns Supreme: DXY Strategic Outlook

29 ต.ค.

🔸Hello guys, today let's review D1 price chart for DXY. We are trading
inside well-defined multi year range, currently closing in on range highs.

🔸Every EURUSD trader need to study this chart and bookmark it in
order to time his entries/exits for EURUSD. Dollar still reigns supreme.

🔸Range lows defined at 100.00 , range highs set at 106.75.
This is the active trading range for DXY since early 2023 it's
well-defined and it's very unlikely that price will exit this range
any time soon so traders should focus on trading based on key s/r
levels on the DXY price chart.

🔸Key Zones: S 100.25 / 101.25 / 102.75 R 105.25 / 106.50

🔸Currently I'm expecting pullback from overhead resistance 105.25
is the critical level where we can expect pullback in DXY, so that's
when you want to also go LONG EURUSD, when DXY maxes out / enters
pullback stage of the cycle.

🔸Recommended strategy position traders: when DXY hits resistance
at 105.25, BUY/HOLD EURUSD, target is 200/300 pips on BUY side for EURUSD. Once the pullback in DXY is over/complete at 102.70, short EURUSD, final target on sell side for EURUSD is 1.0500. Good luck traders!

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Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

29 ต.ค.

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