DXY - 28Mar2022
On the weekly, DXY bounced back to 61.8% Fib last week after bearish candle from the previous week. Price action is indicating that it is forming Wave 3. However, we remain cautious for further upside as weekly Stochastic have started to form negative bearish divergence.
On the H4, price remain resilient and bounce back near the descending trendline. Price action indicates Wave 5-(V)-(II) is still forming and we will need to wait patiently for price to break above the descending trendline with confirmation.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the weekly, DXY bounced back to 61.8% Fib last week after bearish candle from the previous week. Price action is indicating that it is forming Wave 3. However, we remain cautious for further upside as weekly Stochastic have started to form negative bearish divergence.
On the H4, price remain resilient and bounce back near the descending trendline. Price action indicates Wave 5-(V)-(II) is still forming and we will need to wait patiently for price to break above the descending trendline with confirmation.
This is for personal record purposes only, not financial advise or solicitation of trade.