This 1-hour chart of the U.S. Dollar Index shows price previously trending upward within a rising channel, supported by the Ichimoku Cloud. After reaching the upper boundary, a sharp rejection (long wick spike) signals exhaustion. Price has since broken below short-term structure and is slipping toward the cloud support.
Momentum appears to be weakening, with lower highs forming and price edging closer to the lower channel boundary and cloud base.
**Target:**
* Downside target: **98.178** (marked horizontal support and projected move from the breakdown)
If price fails to hold above the cloud and channel support, continuation toward this level becomes likely. A reclaim of the cloud, however, would invalidate the bearish setup.
Momentum appears to be weakening, with lower highs forming and price edging closer to the lower channel boundary and cloud base.
**Target:**
* Downside target: **98.178** (marked horizontal support and projected move from the breakdown)
If price fails to hold above the cloud and channel support, continuation toward this level becomes likely. A reclaim of the cloud, however, would invalidate the bearish setup.
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telegram channel link
t.me/+r9_PoETjAr85Nzlk
join to get daily basis 2-3 free signal for educational purpose
t.me/+r9_PoETjAr85Nzlk
get information about Gold, BTC and forex market
t.me/+r9_PoETjAr85Nzlk
t.me/+r9_PoETjAr85Nzlk
join to get daily basis 2-3 free signal for educational purpose
t.me/+r9_PoETjAr85Nzlk
get information about Gold, BTC and forex market
t.me/+r9_PoETjAr85Nzlk
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.