US Dollar Index (DXY) Chart Analysis – 1H TimeframeUS Dollar IndexCAPITALCOM:DXYHarry_MegatUS Dollar Index (DXY) Chart Analysis – 1H Timeframe This chart shows the **US Dollar Index (DXY)** with key price zones, trendlines, and EMA indicators. Here's a detailed analysis: **Key Observations:** * **Price:** Currently trading near **98.41** * **EMAs:** * **EMA 7** = 98.373 (short-term trend) * **EMA 21** = 98.356 (medium-term trend) * **Trendline:** Uptrend line still intact, acting as dynamic support * **Volume:** Steady, no strong breakout yet * **Support Zones:** 98.20 – 98.35 * **Price Structure:** Consolidating above support and EMAs after a pullback from highs **Bullish Scenario** * If price **holds above EMAs and the green support zone (98.20–98.35)** * **Breakout above 98.50** would confirm strength * Targets: → **98.70** → **99.00+** if trendline support continues to hold * EMAs are aligned bullishly (7 above 21) – good sign for continued upward trend **Bearish Scenario** * If price **breaks below 98.20 and closes under the trendline** * Watch for rejection near 98.50 followed by strong red candle * Downside targets: → **97.80** → **97.60** * A breakdown below the ascending trendline = trend shift confirmation **Conclusion** * **Bias:** Bullish as long as DXY stays above 98.20 and trendline * **Invalidation:** A break and close below 98.20 + trendline = bearish shift