➡️ I decided to make a post about my opinion on DXY (US Dollar Currency Index) on a HTF (HigherTimeFrame). As we already know there could be 2 options where the price could go, up or down.
➡️ For the last three weeks the price is ranging between 97.700-99.300, so I think that below and above levels of support and resistance there are a lot of stop orders which should be taken. In my opinion first of all the price will go up to take the liquidity above PWH (previous weekly high) and resistance level + close the D1 imbalance, this is supported by the fundamental context as we have rate hikes in USA.
➡️ If we have firstly a bearish price action, I expect the price to take the liquidity below PWL (previous weekly low) + support level and reject from the D1 OB (order block) + institutional level 97.000.
What is your opinion about DXY? Comment below...
➡️ For the last three weeks the price is ranging between 97.700-99.300, so I think that below and above levels of support and resistance there are a lot of stop orders which should be taken. In my opinion first of all the price will go up to take the liquidity above PWH (previous weekly high) and resistance level + close the D1 imbalance, this is supported by the fundamental context as we have rate hikes in USA.
➡️ If we have firstly a bearish price action, I expect the price to take the liquidity below PWL (previous weekly low) + support level and reject from the D1 OB (order block) + institutional level 97.000.
What is your opinion about DXY? Comment below...
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spiceprop.com/
Contact me for any questions.