{"id":12810,"date":"2022-11-15T11:30:14","date_gmt":"2022-11-15T11:30:14","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12810"},"modified":"2023-05-16T11:32:47","modified_gmt":"2023-05-16T11:32:47","slug":"dxy-major-bearish-break-out-ahead-of-1d-ma200-test","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/11\/15\/dxy-major-bearish-break-out-ahead-of-1d-ma200-test\/","title":{"rendered":"DXY Major bearish break-out ahead of 1D MA200 test!"},"content":{"rendered":"

 <\/p>\n

The U.S. Dollar Index (DXY) eventually made the bearish break-out we expected as it broke below the Bullish Megaphone pattern that it has been trading in since January 2022:<\/p>\n

\"DXY<\/a><\/div>\n

As you see, the break below the 1D MA100 (green trend-line), which was almost on the bottom (Higher Lows trend-line) of the Bullish Megaphone, was supporting this bullish pattern since June 16 2021! Naturally its break-out has been a major event and the price almost reached the next MA in line, the 1D MA200 (orange trend-line).<\/p>\n

We now see the price rebounding and it shouldn’t come as a surprise as it hit exactly the 1.785 (blue) Fibonacci extension from the last low. Also there is the (green Support Zone) to consider from the May 13 High.<\/p>\n

As a result, we expect a rebound to test either the 1D MA100 or 1D MA50 as Resistances and accumulate more sellers. A closing below the 1D MA200, would be a bearish continuation for us, targeting the 101.300 (May 30 Low).<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/DXY\/gwUKk1Pn-DXY-Major-bearish-break-out-ahead-of-1D-MA200-test<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  The U.S. Dollar Index (DXY) eventually made the bearish break-out we expected as it broke below the Bullish Megaphone pattern that it has been trading in since January 2022: As you see, the break below the 1D MA100 (green trend-line), which was almost on the bottom (Higher Lows trend-line) of the Bullish Megaphone, was<\/p>\n","protected":false},"author":611,"featured_media":12811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1637],"tags":[],"class_list":["post-12810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12810"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12810\/revisions"}],"predecessor-version":[{"id":12813,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12810\/revisions\/12813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12811"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}