From TradingView · · 1m 30s
Is the dollar finally turning?
A trader watches the Dollar Index build a floor at 98.55 and waits for proof before calling the trend change.
In brief
A trader watches the Dollar Index build a floor at 98.55 and waits for proof before calling the trend change. One change of character is a hint, not a reversal. Wait for higher lows to confirm before buying the turn. Originally reported by TradingView.
A bearish trend cracks
The Dollar Index has been falling for a while, held down by a descending trendline running from the 101.60 area. Price is now showing the first signs of a shift.
“The Dollar Index has been in a broader bearish trend, but price is now showing signs of a possible shift.”
Buyers defend 98.55
Price kept finding strong support between 98.55 and 98.80. Repeated tests of that zone without breaking it mean sellers are running out of force there.
The CHOCH signal
After those tests, a change of character printed on the 1 hour chart. It is the earliest structural clue that buyers, not sellers, are setting the tone.
“we now have a 1H CHOCH, suggesting buyers are starting to gain control”
99.00 is the line
Price sits around 99.00, the short term level that matters. The real question is whether the CHOCH matures into a proper bullish structure shift with higher lows.
The upside map
Preferred path: a small pullback, a hold near 98.80 to 99.00, then continuation. Targets stack at 99.50, 100.00 and 100.50, with 101.50 to 101.60 as the bigger objective.
“99.50 → 100.00 → 100.50+”
Where the idea dies
Lose the 98.55 to 98.80 zone and the bullish case weakens, so the plan gets reassessed. Watch the setup develop rather than chasing the candle.
“Let the dollar prove the reversal before assuming the trend has changed.”
The takeaway
One change of character is a hint, not a reversal. Wait for higher lows to confirm before buying the turn.
