Hey folks,
Hope you’re doing well today! We wanted to share some insights on the potential sell for DXY. As you may already be aware, the price has been in a downtrend for quite some time now, and we’re currently seeing a local downtrend within a bigger degree corrective structure. This correction may even result in a new yearly.
We’re exploring a couple of possibilities here, both with a high probability of breaking the low @100.82.
We recommend keeping an eye on the price action to get a better idea of which pattern will develop. We’ll be sure to keep you posted in the comment section below.
As always, trade with care and have a nice day!
Hope you’re doing well today! We wanted to share some insights on the potential sell for DXY. As you may already be aware, the price has been in a downtrend for quite some time now, and we’re currently seeing a local downtrend within a bigger degree corrective structure. This correction may even result in a new yearly.
We’re exploring a couple of possibilities here, both with a high probability of breaking the low @100.82.
- The first possibility is a small range that continues to make lower lows before breaking the low.
The second possibility is a bit more complex, with a deeper pullback towards the confluence created by the 4H order block, trendline, and the 50% FIB retracement level from the previous bearish impulse located at 102.2, before resuming the downtrend.
We recommend keeping an eye on the price action to get a better idea of which pattern will develop. We’ll be sure to keep you posted in the comment section below.
As always, trade with care and have a nice day!
Comment:
Ok, it looks like we are heading towards the trendline and the OB (2nd scenario) and we will be waiting for a bearish reaction there. There is still a possibility that we can fall from here, but I would prefer to wait for a clear setup. Cheers!
Comment:
Potential sell setup in the making:
Trade with care.
Trade with care.
