DXY reached the low of 91.01 and it seemed to reverse at that point. That is the lowest point since January 2015.
We are consolidating near the trendline which indicates that we are going to have a flag. If this was a reversal i believe we would already have been rejected and would be down.
There is a chance this could turn to a 5 wave structure but it is mostly unlikely to happen.
An ideal buy would be around 92.50
TP1 93.30
TP2 94.10
SL below 91.70 but if a flag happens i believe you won't even need an SL
This could be used as a long term signals as DXY will start crawling it's way up to the top
We are consolidating near the trendline which indicates that we are going to have a flag. If this was a reversal i believe we would already have been rejected and would be down.
There is a chance this could turn to a 5 wave structure but it is mostly unlikely to happen.
An ideal buy would be around 92.50
TP1 93.30
TP2 94.10
SL below 91.70 but if a flag happens i believe you won't even need an SL
This could be used as a long term signals as DXY will start crawling it's way up to the top