DXY index growth by Bullish Engulfing Candlestick Pattern🚀

Hi everyone👋(Reading time less than 2 minutes⏰).

It is better first to take a look at the daily chart of the DXY index.

As you can see in the chart below, DXY has managed to form a Piercing Line Candlestick Pattern near the 🟢heavy support zone($ 101.640-$ 100.80)🟢.

📚Piercing Line Candlestick Pattern is a two-day, candlestick price pattern that marks a potential short-term reversal from a downward trend to an upward trend. The pattern includes the first day opening near the high and closing near the low with an average or larger-sized trading range.

In the 4-hour time frame⏰, DXY has managed to form a Bullish Engulfing Candlestick Pattern in the s🟢support zone($ 102.230-$ 101.910)🟢 (it should be noted that the formed pattern is one of the valid and strong return patterns).

Also, Regular Divergence (RD+) can be seen between two successive valleys.

🔔I expect that in the coming days, DXY will take a bullish position after breaking the downtrend line and even breaking the 🔴resistance zone($ 102.86-$102.67)🔴.

U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

Kommentera:

What is your idea❗️❓

Kommentera:

DXY was able to break the downtrend line and resistance zone as I expected ✅

Kommentera:

DXY seems to have pulled back to the resistance zone

Kommentera:

DXY is ready to ⚔️attack⚔️ the next 🔴resistance zone🔴