On the daily and monthly were have a wedge pattern - that indicates a MASSIVE move coming.
My personnel bias would be short - I am expecting price to break down to test lows of the bigger picture.
Right time for entry would be the break and test.
Two possible scenarios - Option 1 , wait for a small pullback on the 1H and long till testing highs.
Option 2 - we get a bigger correction and enter for a long for much bigger profits.
Dollar has a lot of uncertainty at the moment.
Hi All ,
My view on DXY for further movement up is due to levels shown on the chart. We at our respected area of 0.618 and expected correction to come soon.
Price is at a nice price action zone for a short but the dollar keeps surprising us.
What else can we expect ?
-I do see potential to the 0.786 level and from there a hard sell-off to begin.
Will be waiting for price to break new high or low and tested before continuation -
My view would be expecting to break for new highs but before that can we see a double top form at resistance or are we going to get a wave down and a triple bottom for the further movement up again. Ridding waves till we get more confirmation .