DXY - Passed Major Resistance

Bryce YoungUncategorized

After passing 96, our next target is 97.5 - 98. Our previous resistance appears to have turned into support, and our bias is bullish for the dollar.

DXY - Broke Ascending Triangle

Bryce YoungUncategorized

The ascending triangle we’ve been in for weeks has been broken to the upside. It’s closest resistance is 96.5. I expect a retracement to 38.2%+ and then another stride up. Makes for some good setups on USD pairs this week.

DXY - Signs of Rejection

Bryce YoungUncategorized

DXY is still in its consolidation zone, but it is showing rejection of our 94.4 - 94.5 zone. There’s a head and shoulders with some pretty big wicks. At this point, we will just have to wait to see which way it goes once it gets closer to the end of its ascending triangle.

DXY Testing 94.4 - 94.5

Bryce YoungUncategorized

We’ve been hitting this zone for awhile now. Statistically it’s a good sell, but I’m watching for a breakout upward.

DXY Testing 95

Bryce YoungUncategorized

DXY is resuming its uptrend as it retests resistance at 95. If it breaks 95, I’m looking at 95.5 as the next level of resistance.

DXY - Bearish Weekly View

Bryce YoungUncategorized

While the lower TFs show an uptrend, we need to remain cognizant of the Weekly and Daily TFs. In Janurary DXY made a lower low when it touched 88. Since it’s had trouble breaking the resistance at 95, it’s becoming more and more likely that it will try its last low again, or at least the support at 92.

DXY - Within Ascending Triangle

Bryce YoungUncategorized

DXY still has its uptrend intact, however the rejection at 95 is strong. UJ and DXY are both at critical decision points. We’ll find out tonight, most likely, which direction they’re headed.