DXY Dollar Index Technical Analysis and Trade Idea

The #DXY is currently exhibiting range-bound behavior within a broader bullish trend on higher timeframes. While the overall bias remains positive, current price action does not present a compelling entry point for a long position. My strategy involves two potential scenarios:

1: Breakdown Scenario: A break below the current range support would provide a discounted long entry opportunity.
2: Breakout and Retest Scenario: A decisive break above the range high, followed by a retest and failure of that level as new resistance, would signal a potential long entry.

Key Technical Considerations:

- Trend Analysis: The higher timeframe bullish trend offers context for potential long setups.
- Market Structure: Understanding the current range structure guides entry and exit points.
- Price Action: Closely monitor price behavior around key support and resistance levels for trade signals.

Disclaimer: This analysis is strictly educational and does not constitute financial advice. Always conduct your own independent research and thoroughly evaluate your risk appetite before executing any trades.