DXY and what to look for

For those that have read any of my charts, you will notice that I put a strong importance on DXY. DXY movements dictate alot of the moves in the major pairs. Of all the charts I keep open on my screens, the dedicated DXY window is the biggest with multiple charts in multiple timeframes so I can constantly watch the structure in multiple timeframes at all times.

During NY session, DXY has broken out of the bearish channel. This can have a major impact on all the majors.

As it has broken out of structure and created an order block, there are 3 things I am watching for.

• A break above the order block could trigger a move to the upside. This will impact all USD pairs and make them weaker. This seems the most likely as it has already broken out of the channel.
  
• A consolidation within the order block. If this happens then we are ranging and will be extremely difficult to trade. The choppiness in the markets will continue with sharp up and down movements. Stuck with only scalp trades for smaller moves. And as there will be alot of ranging, any trades entries need to get in and out of market quickly.
  
• A break below the order block and potential reentry into the channel. This will cause all USD pairs to become stronger. The bullish LTF structure of many majors I've been watching will be maintained and likely continuation.
  

The only event I can see impacting this today is GBP GDP which will come at pre-market. Nothing with high impact for USD & EUR.

The markets are always changing and we need to monitor and adjust accordingly. By understanding how DXY reacts from now on, can help provide insight trading any of the majors and gold.

As it is Friday, it may be an extremely difficult day to trade as it is the end of the week and the current situation with DXY. I'll continue to post ideas as I see them, if anything interesting comes up.

Hope this helps some of you that are reading this. And any comments to start any interesting discussion would be very much appreciated.