Presented is a DXY directional analysis based off the one hr chart.
Currently we are seeing support in our pivot zone (90.50) with continuous pivot retests.
Our current increase in momentum was sparked by a MACD/SIGNAL cross and slanting up through the 0 line. Our RSI is settling into the overbought zone and will trend between top indicator resistance and closet support for long term continuation. We can sentiment buyer control from this play out to retest pivot zones to the top.
I detailed a potential direction play out based on DXY trading pattern. Generally we see 20-30 pips momentum followed by a retest of around 10 pips before continuing trend.
Please comment with thoughts and ideas. Thank you.
Currently we are seeing support in our pivot zone (90.50) with continuous pivot retests.
Our current increase in momentum was sparked by a MACD/SIGNAL cross and slanting up through the 0 line. Our RSI is settling into the overbought zone and will trend between top indicator resistance and closet support for long term continuation. We can sentiment buyer control from this play out to retest pivot zones to the top.
I detailed a potential direction play out based on DXY trading pattern. Generally we see 20-30 pips momentum followed by a retest of around 10 pips before continuing trend.
Please comment with thoughts and ideas. Thank you.