Analysis
DXY has turned bearish after getting rejected at 104.5 level on lower time frames, although remain above 54 RSI on daily.
Price currently hanging around fib 0.382 since 09, June, which is also a small RBS zone. If not bounced, it can extend the move to lower historical support area 103.536.
If current support is respected, price can go back up to retest 104.234, then either go further for 104.405 or drop back for 103.821.
Overall trend is still very bullish, price is far away from 4H trend line.
Intraday News
There's red folder news for CAD and amber folder for US both of which are forecasted as weak.
Liquidation
price dropped without hesitation through 104.23 are which was supposed to be recent support on 15mins.
There's a small gap on 17, June 103.821 area. If bear intensifies, price and drop to that level to grab some liquidity before moving up.
Support Consideration
mini fib support zone: 103.919 - 104.007
key support: 103.536 (103.423 - 103.619)
Resistance Consideration
immediate retest: 104.234
further test: 104.405, 104.5
Entry
N/A
SL
N/A
TP
N/A
Trade Invalidation
N/A
Expected Pips
N/A
Expected Delivery
N/A
Alternative Scenario
N/A
Similar Pairs
N/A
DXY has turned bearish after getting rejected at 104.5 level on lower time frames, although remain above 54 RSI on daily.
Price currently hanging around fib 0.382 since 09, June, which is also a small RBS zone. If not bounced, it can extend the move to lower historical support area 103.536.
If current support is respected, price can go back up to retest 104.234, then either go further for 104.405 or drop back for 103.821.
Overall trend is still very bullish, price is far away from 4H trend line.
Intraday News
There's red folder news for CAD and amber folder for US both of which are forecasted as weak.
Liquidation
price dropped without hesitation through 104.23 are which was supposed to be recent support on 15mins.
There's a small gap on 17, June 103.821 area. If bear intensifies, price and drop to that level to grab some liquidity before moving up.
Support Consideration
mini fib support zone: 103.919 - 104.007
key support: 103.536 (103.423 - 103.619)
Resistance Consideration
immediate retest: 104.234
further test: 104.405, 104.5
Entry
N/A
SL
N/A
TP
N/A
Trade Invalidation
N/A
Expected Pips
N/A
Expected Delivery
N/A
Alternative Scenario
N/A
Similar Pairs
N/A