DXY has reached the weekly supply zone.
The short-term upward pattern is a correction pattern that the 4-hour correction trend line connects twice. Therefore, if it is a correction, it must come down to break the last line. And while the pattern may come down right away, the probability of a retracement to the a-b-c pattern is high.
Then, the retracement target will come down to the daily demand zone where the daily correction trend line is drawn. The daily demand zone can move upwards depending on how far it descends. It is now drawn in its current state.
There are two cases in the next step.
First, if the market draws and moves upwards on the daily correction trend line of an uptrend in the daily demand zone, it is more likely to renew a high as the daily uptrend continues.
Second, a correction pattern is made in the daily demand zone, and if the support line is broken, the probability of a weekly bearish pattern will increase, and the downward pressure will increase. Therefore, the target of the downtrend will be to descend to the monthly demand zone.
The short-term upward pattern is a correction pattern that the 4-hour correction trend line connects twice. Therefore, if it is a correction, it must come down to break the last line. And while the pattern may come down right away, the probability of a retracement to the a-b-c pattern is high.
Then, the retracement target will come down to the daily demand zone where the daily correction trend line is drawn. The daily demand zone can move upwards depending on how far it descends. It is now drawn in its current state.
There are two cases in the next step.
First, if the market draws and moves upwards on the daily correction trend line of an uptrend in the daily demand zone, it is more likely to renew a high as the daily uptrend continues.
Second, a correction pattern is made in the daily demand zone, and if the support line is broken, the probability of a weekly bearish pattern will increase, and the downward pressure will increase. Therefore, the target of the downtrend will be to descend to the monthly demand zone.