DXY- Approaching sell zone. New leg down is possible
After the high above 114 back on 28 Sept, DXY corrected strongly, falling around 4% in a very short period.
Starting with Monday's low, the index has started to rise again and now is trading back above 112.
In my opinion, this is not a resumption of the long-term up trend, but just a rebound after the strong selloff.
112.80-113.20 zone should provide resistance before the new leg down and here we should look for selling USD opportunities.
The target can be the recent 110 zone low
Starting with Monday's low, the index has started to rise again and now is trading back above 112.
In my opinion, this is not a resumption of the long-term up trend, but just a rebound after the strong selloff.
112.80-113.20 zone should provide resistance before the new leg down and here we should look for selling USD opportunities.
The target can be the recent 110 zone low
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