Happy weekend, feels good to be heading into a new week again.
So far so good and here we are, everything we outlined earlier all seen in price delivery.
- talked about the current quarterly shift that is in place at the moment, seasonality, COT data all supporting lower prices in DXY.
- Yeah, talked about DXY reaching into the MONTHLY INVERSION FAIR VALUE GAP.
"yeh Prhinze, but it didn't get there"
"yeh, dude I am not blind, I can see that".
So we don't trade the DXY, we use it as a measurement for the pair we look forward to trade, in this case talking about EURUSD.Everything we outline on DXY gives clear context on trading
EURUSD.
- while EURUSD made a deep run into the MONTHLY IFVG, DXY decided to sit out on that one
"oh dude, I don't wanna go anymore higher".
- while EURUSD was willing to go lower, DXY was unwilling to go higher, EURUSD filled-in the monthly level, DXY didn't. Just a smart money tool telling us,
"all right fellas, it's time to go the opposite direction.
But even with that, DXY did a little poke into the weekly FVG, that was enough as far as it could go and then DROPPED!!! That was the idea that we built on last week for a decline in DXY and a rally in EURUSD.
SO WE ARE QUITE A NUMBER OF HOURS FROM THE NEW WEEK OPEN. LETS DO A QUICK ONE:
- with no changes in the quarterly shift, seasonality, and COT data sentiment, lower price in DXY continues even with less coming from fundamentals this week.
- last week drop in price saw price trade down an inch to the 40 days look back low in DXY and currently we are in the last phase of our 60 days cast forward in price.
BEHOLD MY VERDICT: Decline for DXY, Rally for EURUSD (wild price runs expected)
So far so good and here we are, everything we outlined earlier all seen in price delivery.
- talked about the current quarterly shift that is in place at the moment, seasonality, COT data all supporting lower prices in DXY.
- Yeah, talked about DXY reaching into the MONTHLY INVERSION FAIR VALUE GAP.
"yeh Prhinze, but it didn't get there"
"yeh, dude I am not blind, I can see that".
So we don't trade the DXY, we use it as a measurement for the pair we look forward to trade, in this case talking about EURUSD.Everything we outline on DXY gives clear context on trading
EURUSD.
- while EURUSD made a deep run into the MONTHLY IFVG, DXY decided to sit out on that one
"oh dude, I don't wanna go anymore higher".
- while EURUSD was willing to go lower, DXY was unwilling to go higher, EURUSD filled-in the monthly level, DXY didn't. Just a smart money tool telling us,
"all right fellas, it's time to go the opposite direction.
But even with that, DXY did a little poke into the weekly FVG, that was enough as far as it could go and then DROPPED!!! That was the idea that we built on last week for a decline in DXY and a rally in EURUSD.
SO WE ARE QUITE A NUMBER OF HOURS FROM THE NEW WEEK OPEN. LETS DO A QUICK ONE:
- with no changes in the quarterly shift, seasonality, and COT data sentiment, lower price in DXY continues even with less coming from fundamentals this week.
- last week drop in price saw price trade down an inch to the 40 days look back low in DXY and currently we are in the last phase of our 60 days cast forward in price.
BEHOLD MY VERDICT: Decline for DXY, Rally for EURUSD (wild price runs expected)