AKM1991

Likely Path of DXY and dollar-pairs

Long
TVC:DXY   U.S. Dollar Index
Looking at current supply and demand levels in the 4hr and daily time frames of DXY, price is currently coming into a demand level. If this demand level holds, then price will be expected to touch the level and turn higher towards the labelled supply level. Looking at pairs that trade against the dollar, AUDUSD/GBPUSD/EURUSD all are very close to supply on similar timeframes. Conversely, USDJPY on the 4hr time frame is currently trending down into a level of key demand. This research was done about 1:30 pm CST after the fed made the decision to keep dollar interest rates the same, and there was a hint of an upcoming rate cut later in FY 2019.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.