Upon observing DXY i was able to notice, a descending wedge formation.
Within the wedge formation are smaller resistance and support zones.
As illustrated above, aggressive buyers are present at 99.-- range.
There is a lot of High impact USD news to come out Friday. 4/14/2017 Forecast predicting bad responses to Consumer Price Index.
I am suspecting 100.78 resistance. Price action may turn into bearish momentum once again, and drive the price down. I am expecting 99.99 or less under the next bearish momentum.
Fundamentals may go with or against this idea.
Within the wedge formation are smaller resistance and support zones.
As illustrated above, aggressive buyers are present at 99.-- range.
There is a lot of High impact USD news to come out Friday. 4/14/2017 Forecast predicting bad responses to Consumer Price Index.
I am suspecting 100.78 resistance. Price action may turn into bearish momentum once again, and drive the price down. I am expecting 99.99 or less under the next bearish momentum.
Fundamentals may go with or against this idea.
Comment:
So far so good. Follow DXY analysis as planned. Happy trading folks.
Comment:
Still following my projected idea to the T
Comment:
THe pull back completed. Now for the rest of the way down.
Comment:
Looking great