jojofang0901

What's your view on the USD ? Bullish or Bearish ?

TVC:DXY   U.S. Dollar Currency Index

Hi everyone:

What is your current view on the USD ?

There seems to be an fairly equal amount of buyer and seller point of view and bias on whether the USD will continue gain strength or possible reverse and become weak.
Many different opinions, different view points based on fundamental, technical and more.
All could have their good valid points. So, lets take a look at what I see from all these from a technical point of view ?

Here is my personal point of view at the current price action development. I will show what could be a view possible scenarios of the USD based on price action analysis.

After the previous bullish impulse phase up, price since November 2021 has been consolidating within this correctional phase.
As we know how the market tends to move after a consolidation period, its likely to resume an impulse phase, but whether that can be continuation, or reversal is the tricky part of price action analysis.

Last week, we saw mid way through the week price has push down impulsively, broken out of the original structure most of us saw at the time.
But came Friday, when price had a bit of sharp reversal on the lower time frames.

At this point, its whether to determine the USD is now reversing to the upside on the LTFs, and potentially resuming its bullish trend from previous impulse phase.
or
price is just having a quick pullbacks, but if consolidate and form correction, could still possible resume the downside reversal trends.

Time will tell and give us a better development of the price, then it can confirm the bullish continuation, or the bearish reversal of the USD.

Personally, my bias is more looking for upside, bullish continuation.
So I do want to see whether the LTFs can form bullish price action and continue to push the price and eventually complete the correction to go higher.

Welcome to share your analysis, view point, and opinions. :)

Thank you

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Comment: Looks like the USD is pushing up just as we have forecasted, are you in the USD strength ?
Comment: USD is continuing its strength just as expected

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