DXY (US-DOLLAR) testing strong Resistance-Zone
Hey tradomaniacs,
even though we`ve seen very dovish statements by Jerome Powell, aswell as worse economic-data from the USA, which is currently bad for the US-DOLLAR as the market started to BET against the Feds policy the bears suffered due to a lack of controle.
The current rally seemed to be a bit exthausted as there was no retracement to give bears betters prices to follow the momentum.
We see now a re-test of a potential strong resistance-zone which should hold as long as yields stay low and stocks move up!
It is currently very tricky as the uncertainy and risk increases due to the short-squeeze-drama by WSB.
However, I will watch this level carefully and look for a short if market price rejects off this level.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me!
even though we`ve seen very dovish statements by Jerome Powell, aswell as worse economic-data from the USA, which is currently bad for the US-DOLLAR as the market started to BET against the Feds policy the bears suffered due to a lack of controle.
The current rally seemed to be a bit exthausted as there was no retracement to give bears betters prices to follow the momentum.
We see now a re-test of a potential strong resistance-zone which should hold as long as yields stay low and stocks move up!
It is currently very tricky as the uncertainy and risk increases due to the short-squeeze-drama by WSB.
However, I will watch this level carefully and look for a short if market price rejects off this level.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me!
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