The dollar index is trading off a Monthly SIBI and we saw March price action trade above the highs of December, January and February into the Monthly Sibi before seeing bearish delivery. Tuning down to the weekly and Daily timeframes. There is a visible break of market structure (BMS) on the daily timeframe after which we saw the trading day of Tuesday, 14th march and Wednesday, 15th March trade into the Balanced Price Range (BPR) failing to take out the high of wednesday, 8th march ( Higher Low ) while the FIBER on the same day made a lower low by taking out Wednesday, 8th march low indicating an SMT DIVERGENCE between DXY and the Fiber and we have been seeing lower deliveries from then.
Going into this week's trading, my next draw in liquidity for dxy is 102.586 and my ideal scenario for the week would be to see Monday trade below Last week's low on a closing basis leaving as a SIBI and i would preferably love to see the high of the week form around there.
Overall, I'm Bearish on DXY till the next draw is met and then we see what price offers us in terms of delivery from there. Fundamentally, there's a lot of drama around the dollar with the banking collapse and upcoming rates announcement. It'd definitely suck to be Fed Powell right now but we see how all that goes.
THIS IS NOT A FINANCIAL OR TRADE ADVISE!!!!!
TRADE SAFE
#CMouhameddaye
Going into this week's trading, my next draw in liquidity for dxy is 102.586 and my ideal scenario for the week would be to see Monday trade below Last week's low on a closing basis leaving as a SIBI and i would preferably love to see the high of the week form around there.
Overall, I'm Bearish on DXY till the next draw is met and then we see what price offers us in terms of delivery from there. Fundamentally, there's a lot of drama around the dollar with the banking collapse and upcoming rates announcement. It'd definitely suck to be Fed Powell right now but we see how all that goes.
THIS IS NOT A FINANCIAL OR TRADE ADVISE!!!!!
TRADE SAFE
#CMouhameddaye