💲DXY (U.S. Dollar Index)💲
🗣️ Update of US dollar index analysis - 4-hour time frame 🗣️
📆 Wednesday 6.9.2023 📆
As you can see, the dollar index has formed a base after breaking the long-term downward trend line and engulfing the Major SR line during the QM structure.
This area was so powerful that the index was able to rise above the Minor SR line by reacting to it.
According to the structure, we can consider this area as an FTR.
A pullback to this area can be the beginning of a long-term upward trend for the index.
📌 Note that DXY is fluctuating in the PAZ area, between FL ~101 and FL ~105 in the higher time frame, in order to make long-term and more accurate decisions, we must wait for DXY reaction to the respected flag limits.
🎗 Trader ACE Academy 🎗
🗣️ Update of US dollar index analysis - 4-hour time frame 🗣️
📆 Wednesday 6.9.2023 📆
As you can see, the dollar index has formed a base after breaking the long-term downward trend line and engulfing the Major SR line during the QM structure.
This area was so powerful that the index was able to rise above the Minor SR line by reacting to it.
According to the structure, we can consider this area as an FTR.
A pullback to this area can be the beginning of a long-term upward trend for the index.
📌 Note that DXY is fluctuating in the PAZ area, between FL ~101 and FL ~105 in the higher time frame, in order to make long-term and more accurate decisions, we must wait for DXY reaction to the respected flag limits.
🎗 Trader ACE Academy 🎗