The dollar index has been correcting for three months. On Friday 2/3/23 the DXY closed above supply for the past two weeks closing above twice its average daily range. With such a big move being made inside of the monthly demand zone I project the DXY testing it's 114 high.
USD/JPY has been moving in tandem with the DXY. USD/JPY is especially sensitive when the DXY goes long. The area highlighted in ORANGE is PROFIT POTENTIAL based on the MONTHLY chart. The areas highlighted in RED are SUPPLY ZONES based on the WEEKLY chart. I take profits just before supply and manage my trades when price is in supply. I am entering USD/JPY long...
NZD will have news being released tonight at 9PM. NZD is currently showing bullish momentum on the 30 minute and 4 hour time frames. This trade will be quick only meant for news as that is what will push price violently. I will be managing this trade on a 1 minute time frame.
AUD/JPY shows no indications of slowing down from it's continuous monster rally. A pullback to the purple and gray area of demand @ 83.9 would be the ideal entry for the long continuation.
EURGBP is at the bottom of its sideways pattern indicating a potential long. A pullback to the purple and gray areas of demand around .8634 is the ideal entry back to the upside.
The EURUSD is currently in a high confluence area of supply. During the London session between 3:15AM & 4AM EST would be the catalyst needed to push the EUR to the downside.
