DXY in recent days can be seen sideways, the price moves slowly and according to my analysis that DXY will still make a deep price reduction as long as the price does not rise more than the invalid area
DXY confirmed this week that its price has been bearish and is currently attempting to break through the reversal area. If the reversal line is successfully penetrated, it will confirm the bearish trend, although there is a possibility of a temporary bullish correction. The initial bearish target is 103.500
Based on Dxy's recent movements over the past 2 weeks, there hasn't been a noticeable correction. Despite the fact that the price has reached Fibo Extensions 1, it's likely that there will still be an upward trend towards a price of 109,000.
Past couple of weeks we've the DXY continually rebalancing immediately and pushing higher.
Last week's high stopped right in its tracks at the Mean Threshold of a NMOG. Random, right?
Other than that, nothing of too much in interest in terms of a swing trade POI. However, I will still be expecting price to push higher.
(See previous analysis on the DXY).
After Sunday and Monday's closure, the price seems to have stabilized. I have highlighted the area where the price remained. It would be wise to wait for the price to move out of the lower box region. If the price breaks through the bearish trend, there could be a chance of a reversal. However, if the price breaks through the bullish trend, the price will continue to rise.
Seeing Dxy's unstoppable movement, the possibility to continue bullish next week is still quite large. Where last week was still formed New High even though in its movement the price was seen that there was fatigue marked by a fairly small candle every time bullish. There is a possibility that the price will try to bullish to the QM area.
Dxy walked to the target that was analyzed a few days ago. I am still on the analysis that at this time it is still not proven to enter the bullish trend in full, it could be still in the correction wave.
This analysis is still the same as the last analysis, I am still bullish for this analysis. the price is currently at support, with several signs of rejection candles, there is a possibility of continuing the bullish trend again. if the price drops from support, there is a high probability that the price will retest the SnD area below.
DXY analysis is still in accordance with the analysis some time ago, still in the a-b-c correction period. if we pull the fibo extension, from wave a to wave b, we can know the forecast of wave c will end.
fibo extension 1.618 is adjacent to the SnD H4 area. it could be that the price is heading in that direction.
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.
there is a change in the elliot notation on DXY. where there is a possibility of a-b-c correction. the confirmed SnD area is an area to wait in case of reversal.
price touched there SnD where currently seen on h4 there is resistance, is this a sign of reversal? we wait for some more confirmation, is there a positive bullish candle or maybe a rejection candle.
I see the dollar continuing to appreciate. will like to see price trade into the 2023 open and look for a reversal at those levels. However open and flexible to whatever develops during the trading week as always.
