FX.co ★ Technical Analysis of Intraday Price Movement of United States Dollar Index , Monday March 04, 2024.

If we look on the 4 hour chart, United States of Dollar Index seems after managed to break below the daily Rising Wedge pattern (Magenta), and now #USDX made a new Rising Wedge on the 4 hour chart (Chocolate) so that in the near future #USDX seems trying to break below the level 103,63, if this level successfully broken below, then #USDX has the potential to continue its strengthen to the level 103,40, as the main target and level 102,85 as the next target if the momentum as well as the volatility is supporting enough. But we need to pay attention that if on the way to those level targets suddenly there is a strengthening correction untuk breaks above the level 104,26, then all the strengthening scenario that has been described before will become invalid and will automatically cancel itself.

(Disclaimer)