DXY is still long term bearish and if you refer to my DXY mark up I give an explanation on it. We know that EU moves opposite of the DXY so we should expect bullish momentum long term on it. EU is currently retracing from an expansion phase back to an area of consolidation. It has be in an uptrend for some time now with no sign of reversal and the most obvious area it could be reaching for is the high it made in 2018. Its an obvious area of liquidity above it so it looks to be reaching to take it out. To buy up to that high I need to see the previous area of consolidation respected by not taking out the low of the area. I want to see it pullback to 50% of the consolidation to look for longs up to the high of 2018.
Comment:
we're in the buy zone now off the equilibrium of the consolidation zone I entered a buy at 1.3740 with a stop loss at 1.3700. We do have double bottoms on which means liquidity will be resting below it and the DXY is showing bullish momentum and EU moves opposite of the DXY so if we do get a push from this zone ill probably get out at the mini equilibrium to play it safe.
Comment:
tp should be hit tomorrow