US Dollar - 1D - Slight weakness, nothing to worry about... YET
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Underlying:DXY
Time frame:1D
What Has Happened So Far:
So since the top around Jan 2017 it has declined 10-12%. I posted a chart around a week ago stating I was looking for price to come and hit the pink trading range, which it has done. Although it has hit it, it was not a strong hit and is the reason I am looking for price to re-test that pink trading zone.
What am I Looking to Happen:
This is hard for me as I never really like to be long the US Dollar.. however it has been sold quite heavily. The MACD has now crossed above the centre line. The Bollinger Band centre line is now lining up with the 50MA which could act as strong support, because of that this might be another good time to buy.
Target Profit:94.35
Stop Loss:92.60
Risk/Reward Ratio:2.65
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
Underlying:DXY
Time frame:1D
What Has Happened So Far:
So since the top around Jan 2017 it has declined 10-12%. I posted a chart around a week ago stating I was looking for price to come and hit the pink trading range, which it has done. Although it has hit it, it was not a strong hit and is the reason I am looking for price to re-test that pink trading zone.
What am I Looking to Happen:
This is hard for me as I never really like to be long the US Dollar.. however it has been sold quite heavily. The MACD has now crossed above the centre line. The Bollinger Band centre line is now lining up with the 50MA which could act as strong support, because of that this might be another good time to buy.
Target Profit:94.35
Stop Loss:92.60
Risk/Reward Ratio:2.65
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!