DXY's journey since the last analysis is still in accordance with the roadmap, now there is a change in the character of the trend. there is a possibility of reversal. the price has broken the trendline resistance and formed a new high.
Currently the price is moving close to SnD and is still held by the trendline, there is a possibility of a retrace. when the...
the SnD area is responding positively for now, there are several shadow candles with quite long proportions. if the DXY movement is appropriate then the possibility is that the price for the beginning of next week will be bullish limited to the resistance area.
As my analysis before, I mentioned that DXY could started to bullish again from 107.9 and other asset are tanking.
This is my view of DXY for this week :
DXY is now in corrective move and could sweep the liquidity between 109-108 area before continue upwards
We will have FED % rate news release on 21th Wednesday with 75bps forecast
This news will decide...
DXY still pumping along with weakening momentum.
Is now breaking out diagonal support as a sign of correction.
We will see some short-term relief bounce on other asset, stock, crypto, gold IMO.
Take a closer look at 107.9 - 106 area, DXY could start pump again when touching this area.
Note : Fed % rate catalyst is still strong that could make this plan invalid.
In the DXY (Dollar Index) we can see the 5 waves up clearly that's mean we finished there wave 1 or A and we are now coming for wave 2 or B after that we can see 5 waves to the upside for wave 3 or C. Most probably we will bounce from 61.8% of fibo to the upside.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or...
