DXY took out a key low at 101 with strong reaction back up into the range established in August-September 2022.
Idea: DXY will strengthen in upcoming months, pushing the risk on lower.
Target for lower highs is around 50% of established range, which for fans of Fibonacci retracement tool is around 0,618-0,705 of current range.
Target Price: 110-111
If we see strength around these levels, top of range or new highs will be on the cards.
Idea: DXY will strengthen in upcoming months, pushing the risk on lower.
Target for lower highs is around 50% of established range, which for fans of Fibonacci retracement tool is around 0,618-0,705 of current range.
Target Price: 110-111
If we see strength around these levels, top of range or new highs will be on the cards.
Comment:
Confirmed push from the double bottom with Market Structure Break on higher time frame.
Next stop 106 - we'll see there if we push higher for the 110-111 area
Next stop 106 - we'll see there if we push higher for the 110-111 area
Comment:
Idea was clearly wrong, but if DXY will remain strong, I'm still expecting the 110-111 price level to be the potential turn around point.
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Observing next moves.