i just threw this up here for anybody looking for entries & tp's
I just feel like this is a keysupport area and also the dxy is bearish so im going to take this trade.. im already entered
DXY found support at 93.5 but we're is straight up rejecting the trend line support.. it looks like its just going to keep testing both until it breaks out one way, creating a wedge... i got my alerts set at 93.5 and 93.91 on the dxy.. i have a long bias, but ehh lets see. this is just a wait and see.
POTENTIALLY BREAKING OUT.. PLAIN AND SIMPLE.. either ride the wave or sink.. but we gone let it push up and confirm before the buy
dxy is in a down trend but is close to turning bullish again.. i just want every one aware.. i will also post the zoomed in... up to date picture below.. frequently
USD is rising.. im about to test my patience and hold this trade until i cant anymore... its GDP & NFP week for USD.. aud to cut rates on october 6th as well.. im just trying to mix the technicals with the fundamentals on this one
strictly personal lol ... im testing a new stategy
I expect the downside to continue.. its just a matter of when.. it is building bearish divergence on all time frames... STOP : 134.850 ENTRY: 134.450 TP1: 133.046 TP2: 131.939
I feel like the DXY will reach 94 this week. it keeps turning the old resistance into support.. The Fed does come in and talk this week. I don't believe they will stimulate the markets or be too quick to turn on the printer until the election is over, due to the fact that they won't allocate gov spending without knowing who will be in office. Also the stock market...
Just here micro managing the levels on dxy until she decides where wants to go!
Cad/Chf has reached the high point on the all time downtrend.. This is a short term short until Wednesday September 5th, 2020. Thats when the Canadian Central Bank decides on their 'Overnight Rate' and make a statement shortly following. Also the Bank of Canada will make a brief statement the next day, which always leads to volatility and may lead to CAD strength....
i THINK WITH BAD USD NEWS WE CAN POSSIBLY SEE 1.20 - 1.22 IN THE NEAR FUTURE