DXY - 11Apr2022
On the weekly, DXY tested the major 78.6% Fib resistance at 100.04 last week and face bearish pressure. If price close above 100.04, we could expect DXY to bounce and retest 31Mar20 highs at 102.90
On the H4, price action indicates last Wave 5 might be playing out. H4 Stochastic has came down from the resistance and H1 Stochastic still indicating negative bearish divergence. Indicators are signaling a possible pullback however price action still remain bullish for now. If DXY continues to surge higher, the Wave 5 count will be replaced with continual Wave 3 instead.
This is for personal work record purposes only, not financial advise or solicitation of trade.
On the weekly, DXY tested the major 78.6% Fib resistance at 100.04 last week and face bearish pressure. If price close above 100.04, we could expect DXY to bounce and retest 31Mar20 highs at 102.90
On the H4, price action indicates last Wave 5 might be playing out. H4 Stochastic has came down from the resistance and H1 Stochastic still indicating negative bearish divergence. Indicators are signaling a possible pullback however price action still remain bullish for now. If DXY continues to surge higher, the Wave 5 count will be replaced with continual Wave 3 instead.
This is for personal work record purposes only, not financial advise or solicitation of trade.