Dxy rising wedge pattern is squeezing smaller each day. We are expecting it to break out to the downside withing a few days to short the dollar. This is a great time to look at PA on some major pairs.
Hey traders, here is the analysis for the DXY. If you guys like my analysis please hit like👍 and follow. Thanks. DISCLAIMER:- This is not financial advice.
Almost exactly one year ago, the dollar reversed to begin its bullish run we've witnessed this full year. Today, price has reversed to the downside, passing the lows of $107.69.
This could be the turn of a bearish dollar going into 2023. The major currency pair's bias may now have to change with this news and the US30 market may turn bullish if it reverses to...
- Structure not broken
- Re-test OB yesterday
- Above 1.20200
- Entry 0.79 fib
- DXY bearish
- Creating liquidity pool before aiming higher targets to fill imbalance completely, removing liquidity from today above TP
That's my view. If I'm wrong, good, I will journal, learn a lesson and keep moving.
If I'm right, good, I will bank profits, journal and keep...
The gold rebounded and surged by 150 pips amid a dovish FOMC.
Not just the dampening of a rate hike but also an increased sentiment that the next move could very well be a rate cut.
The mid-term outlook of the dollar has confirmed to be bearish and gold is most definitely to keep climbing as the dollar weakens further.
For now, we also to exercise patience to wait...
