The DXY is in a position where the daily bearish pattern could be renewed, followed by a daily downtrend. Keep an eye out for action coming from the short 4-hour supply zone and daily supply zone.
The most probable scenario is a drop in the 4 hour supply zone and then a rebound in the daily supply zone.
Then, come down from the daily supply zone and test the floor,
This is very important here. If it gains support again above the blue support line drawn on the chart, it is very likely to move towards the weekly supply zone. Conversely, if it goes down, the daily downtrend continues. In other words, it is very likely to be extended to the monthly correction process. There will be a chance for a rebound in the monthly demand zone below the floor.
Depending on the pattern in which the DXY will be created, it will be decided whether the USD Pairs currencies such as EURUSD, AUDUSD, and GBPUSD will adjust or fall at a slightly higher level than the current one, or whether the second rise will continue until the end of August by expanding the monthly correction process. It seems.
In any case, even if the DXY goes down, it is very likely to rebound or rise after September.
The most probable scenario is a drop in the 4 hour supply zone and then a rebound in the daily supply zone.
Then, come down from the daily supply zone and test the floor,
This is very important here. If it gains support again above the blue support line drawn on the chart, it is very likely to move towards the weekly supply zone. Conversely, if it goes down, the daily downtrend continues. In other words, it is very likely to be extended to the monthly correction process. There will be a chance for a rebound in the monthly demand zone below the floor.
Depending on the pattern in which the DXY will be created, it will be decided whether the USD Pairs currencies such as EURUSD, AUDUSD, and GBPUSD will adjust or fall at a slightly higher level than the current one, or whether the second rise will continue until the end of August by expanding the monthly correction process. It seems.
In any case, even if the DXY goes down, it is very likely to rebound or rise after September.