Last Wednesday’s trade plan has ended in another win:

https://www.finlogix.com/analysis/20240313/us-dollar-dxy-intraday-analysis-and-trading-plan-for-march-13-2024

Winning 4 in a row! 5 wins and 2 losses respectively.

DXY is one of my best performing Finlogix analyses lately.

These are no 2 US major economic reports to keep an eye this Friday.

Re-assessing the US Dollar DXY index high timeframe candles:

Yearly Candle: Last check  is an Inverted Green Hammer now a Green Shaven Bottom

Monthly Candle: Last check is a Red Body with Longer Tail Wick now a Red Hammer

Weekly Candle: Last check is a Green Long Upper Shadow now a Green Body with a Slightly Lower Tail Wick

Daily Candle: Previous close is a Green Body current is developing a Small Green Body

DXY has held its yearly gains. Bullish traction remains intact.

Monthly evolved to a Red Hammer since last check with a very good double weekly bottom after previous week’s low were held strongly.

Intraday’s candle is developing a Green Body will have strong Friday bids with both aiming the daily and 4H 200-SMA resistance levels.

Yesterday’s 5 US major economic releases came out in a split majority. A 3-2 score helping  Greenback gains.

A rise in treasury bond yields today also help securing Greenback bids.

The 23-day down trend has been completed and DXY is heading north for now.

I still maintain the idea that the DXY seeks a higher high to close this week and extends next week before a potential drop.

My last two profits were based on a complete retracement on the bearish 4H FVG and OB at 38.20% fib level which have been all realized.

I remain a buyer since the index is still hovering in discount array.

In the charts above, there are 2 FVGs that are good pullback entries and nearby 4H 100 and 200 SMAs as profit targets.

We can see a good break out above the 102.75 and 103.15 resistances respectively.

The entry point is through the 1st 4H FVG layer coinciding the OB and a quick stop loss on the 2nd layer’s full retracement to be safe.

It will be a good attempt to long DXY again.