DXY Long idea
Last week we saw huge bearish volume from news that pushed price action out of this range on the daily time-frame but price action formation now is showing a bullish engulfing which is displayed as a HUGE weekly time-frame wick
The overall trend on higher time-frames is steadily bullish and it is right to assume a continuation of this trend. If we see a break back into this range with a confirmed retest of broken resistance turned support we will continue to target long for the USD
Potential to reach 98.00 - 98.500 area
Last week we saw huge bearish volume from news that pushed price action out of this range on the daily time-frame but price action formation now is showing a bullish engulfing which is displayed as a HUGE weekly time-frame wick
The overall trend on higher time-frames is steadily bullish and it is right to assume a continuation of this trend. If we see a break back into this range with a confirmed retest of broken resistance turned support we will continue to target long for the USD
Potential to reach 98.00 - 98.500 area