Hello Traders, TG 1= 91% probability TG 2 = 86% probability TG 3 = 70% probability Best, Sirak
LONGER TERM WILL BULLISH,WILL WAIT FOR THE BREAK BEFORE ENTRY FOR LONG
Goal of this test is to see if price will reach the 1-4 line of the Wolfe Wave within close proximity of the Green G wave level. If so, could this be the ever elusive ETA of the Wolfe Wave?? Maybe.....just maybe. -Sirak
DXY has hit a major support area and completed a harmonic bat pattern as well. We see RSI rising from the oversold level. I'm bullish on the dollar for now.
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*Bullish Engulfing bar is circled. -- Risk a few pips to gain the higher reward** *Time for a bit of consolidation at the last strong defense for bulls at the support area 93-94.* *Highly Likely to bounce back to the initial dip.* *Potential TP would be 95.* Trade Safe Digit Trader
DXY 1H Long Resistance: 94,63 - 94,76 This is not investment advice
Expecting a turn here, we have reached monthly support and end of the trend line + RSI div in weekly.
DXY 4H Long Resistance: 96,50 - 96,60 This is not investment advice
On the daily time frame the Dollar index has finally broken free from its bullish wedge. High probability that the upcoming week we shall see the dollar climb. On all dollar pairs there's also a nice setup in favor of the dollar.
The DXY has seen strength over the past few sessions. A retest at or near the previous low around 95.58 would not be surprising before a continuation higher. The volatility of NFP week may provide the dip to get the DXY higher.
DXY 1D Bullish Elliott Resistance: 96,44 - 98,31 Support: 95,77 This is not investment advice
Dollar Index is at a crucial point. We can see a nice bullish wedge. This mostly is a reversal sign for a strong wave up. However the Stoch indicator still shows enough selling pressure is left to push the price further down. ADX is a bit doubtfull about this, could hint at a reversal up. So keep a close eyes on the dollar index. If the upper range breaks we will...
DXY W Long - Bullish Resistance: 97,50 - 99,95 This is not investment advice