Hello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX
If you like the idea, do not forget to support with a like and follow.
What's next on DXY from a MACRO perspective.
As we can see price previously broke above our major swing high, and the bulls took over from a long term perspective.
However, price now is retesting our previous resistance zone, which is now acting as a support zone.
So, we are still speculating some bullish movement from the current price action,
Unless OfCourse price managed to break below the first marked support zone (1), then a movement lower would be expected till the next support zone (2)
However, for this scenario to be confirmed we need a weekly momentum candle close below the marked support zone (1).
Meanwhile, and until that happens, and for the bulls to kick in again we need a break above the marked upper major swing high,
Then a movement higher again would be expected.
If you like this kind of analysis don't forget to like and follow
and as usual follow your trading plan and manage your risk.
Be patient and good luck!
If you like the idea, do not forget to support with a like and follow.
What's next on DXY from a MACRO perspective.
As we can see price previously broke above our major swing high, and the bulls took over from a long term perspective.
However, price now is retesting our previous resistance zone, which is now acting as a support zone.
So, we are still speculating some bullish movement from the current price action,
Unless OfCourse price managed to break below the first marked support zone (1), then a movement lower would be expected till the next support zone (2)
However, for this scenario to be confirmed we need a weekly momentum candle close below the marked support zone (1).
Meanwhile, and until that happens, and for the bulls to kick in again we need a break above the marked upper major swing high,
Then a movement higher again would be expected.
If you like this kind of analysis don't forget to like and follow
and as usual follow your trading plan and manage your risk.
Be patient and good luck!