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DXY (Dollar Index) Full Analysis 2/5/2023

MONTHLY

Monthly: The DXY has finally hit the 101 Support level we were waiting for. This is a critical level and could be the bottom of this recovery back to the upside. Next area of interest would be the 103.9 level on the monthly TF.

 
WEEKLY

Weekly: Price made a liquidity grab through the 101 support during the NFP news and led to a massive rebound. Short term target on the weekly is 103.6-103.9. If price breaks that zone then 107.5 is the longer term target.

 
DAILY

Daily: We will likely see a retest of the 101.5-102 level before we continue this bullish run. A bullish DXY means we can look for opportunity to go long USD/xxx pairs and short xxx/USD pairs.


Roy Dunia

2/5/2023

ChartAddicts


 

This is not financial advice. The information shared is the opinion of a Chartaddicts analyst. Please do your own research.

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