FX.co ★ DXY Potential For Bullish Continuation | 14th September 2022

On the H4, price is still respecting the bullish channel- we are bullish bias. Price has rebounded off the support level and is moving toward the first resistance at 110.772 levels where the previous swing high sits. Alternatively, price could pull back to test the first support at 109.323 where the 23.6% retracement sits then the second support at 107.842 where the 61.8% projection and previous swing low sits

Trading Recommendation

Entry: 109.323

Reason for Entry:

23.6% retracement, pull back buy entry

Take Profit: 110.772

Reason for Take Profit:Previous swing high

Stop Loss: 1.1442

Reason for Stop Loss:

161.8% extension, previous swing low