DXY moving up in the coming week(s)

Most of my trading these days are either USD pairs or JPY pairs. As such, I keep a very close eye on DXY at all times.

Although I was bearish on DXY a couple weeks back, I am now bullish. DXY has broken out of the the Bearish Structure. And as we all know, Descending Wedges are a bullish signal following a breakout. As clearly seen from this chart, not only has DXY broken out of the wedge but it has also retested it. From here it should continue upwards. It appears a new structure is already starting to form.

I am guessing, we may see a correction around this level as it recently hit a key level but expect a push up to the next order block following a little consolidation within this order block.

It is very important to follow and understand DXY movements as it will have a huge impact on USD pairs. As such, I am expecting USDCAD to extend further to upside (Analysis linked below). As well as GU & EU to melt down further.

Again to summarize, I am expecting a small correction and then a move to the the upside. I will do a review and follow-up next weekend after the coming week's price action.

Let me know your thoughts.

Trade Safe!
HEET

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