AUDUSD - DXY and Australian dollar timing

FX:AUDUSD   Australian Dollar / U.S. Dollar
A nice opportunity to buy this pair has arisen, as the DXY             is hitting a daily supply level and on the AUDUSD             pair, we see price has just hit a daily demand, a 240 min demand and 30 min demand levels at the same time. So, is a very high probability trade but we can always wait for a confirmation ( RSI divergence, RSI overbought/oversold, double bottom , doji canddle, etc.) on the entry timeframe.

The DXY             chart is posted on the first comment.

Good luck!
I think in this case given the sharp selloff the daily levels you noted are probably going to hold more significance, 0.8757 looks good which is where it is now... and agree with the dixie... I am short USDJPY now due to the same reason higher time frame supply levels + patterns, that supply level you noted on dollar index also looks good so we might be in for a Euro rally as well...! (Euro makes up >55% of DXY)
+1 Reply
Daniel.Dalo dionvuletich
Thank you very much for the insight, I will take a look at USDJPY because I didn't have time during the weekend :s I hope that trade goes good for you as well.
dionvuletich Daniel.Dalo
btw I really like the look of that DXY level... =)
+1 Reply
Daniel.Dalo dionvuletich
Thanks! It really seems very good, I hope it holds, because I'm trying to time my entries based on that level holding for this week =)
DXY hitting daily supply level:

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