jojofang0901

DXY My View on the USD and moving forward

Short
TVC:DXY   U.S. Dollar Currency Index

Hi traders:

What can expect from the USD in the near future ?

As we can see here, price is once again at the top of the overall current price action structure.

Price spent much of the time since July correcting within the expanding structure. Not much bullish price action here.

Now, we can see a potential double tops, price formed a lower time frame ascending channel within the expanding structure, all clues leading to a bearish reversal price.

Now that we see some lower time frame bearish move down now, good to wait for a clear impulse down, follow by continuation before looking for sell entries down to the previous lows.

If price does indeed continue further, then LTF bearish continuation correction is likely to form and push toe price down to the higher time frame structure.

Thank you
Comment: Higher Time Frame:
Comment: Price had the bearish reversal impulse, and is now forming the bearish continuation correction.
Comment:

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