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jojofang0901
Jun 3, 2021 8:15 PM

USD Bullish Outlook Long

TVC:DXY240
U.S. Dollar Currency IndexTVC

Description

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USD Bullish Outlook

Hello traders:

USD has certainly shown us some strength from yesterday,
and many of the USD pairs are looking very clean for some bullish move in favor of the USD.

We can see here on USD index, price slowed down when it reached a double bottoms area, correcting within the descending channel structure.

Finally we see some bullish LTF breakout from the correction, good indication of strength.

Lets see if we can get a continuation correction to develop and complete to give us some entry for the next move up the the previous tops.

Thank you
Chart PatternsParallel ChannelFlagpriceactionstructurepatternimpulsecorrectionWedge
Comments
CobraVanguard
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Bravo
awesome chart and idea
jojofang0901
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@T_V_TreeTrader, thx bro :)
MMBTtrader
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valid breakout and thanks for sharing
jojofang0901
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@MMBTtrader, still waiting for the right bullish price action after NFP, lets see next week :)
jazerbay
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Looks very nice thank you Jojo!
jojofang0901
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@jazerbay, great thx bud :)
KlejdiCuni
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Nice, thank you!
financialflagship
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Nice trade overview, thanks for sharing! 👍
SolomonLalani
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Long USDCAD from 1.203/1.204 has a better risk-return than betting on entire DX complex. Other dominant pairs such as EUR and JPY drag down DX but do not affect USDCAD which has 84% correlation currently with CL
jojofang0901
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@SolomonLalani, Great good for you, similar bullish view on USDCAD as well. :)
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