Taking a short position from DAILY resistance, top of the channel trendline.
With SL above the trendline and target at .618 Fib Extension.
On top of this, is the oversold DXY. Will be expecting some retracement from DXY before seeing it move down further.
With SL above the trendline and target at .618 Fib Extension.
On top of this, is the oversold DXY. Will be expecting some retracement from DXY before seeing it move down further.
Trade closed manually:
Closed at 1.12032 | -70pips
Seems like no one wants to be holding dollar across the board with the DXY in freefall.
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Personally still holding the bias that the dollar is way oversold and the market has overreacted to the soft prints. Will be looking for re-entry at a better price and when sentiment is more optimistic.
Seems like no one wants to be holding dollar across the board with the DXY in freefall.
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Personally still holding the bias that the dollar is way oversold and the market has overreacted to the soft prints. Will be looking for re-entry at a better price and when sentiment is more optimistic.