Market Shift has occurred on the DXY during the last quarter of 2018 with equal lows at 93.20 being run to take out short stops. A retracement higher throughout 2019 saw price struggle to move higher to the 100.00 round figure number.this being 61.8% retracement of the previous swing. We had a entry confirmation on the SAR and ADX confirming to go short with a pivot a 96.00 level.
My first Target is below the 88.50 level as this is location where a large number of short stops are placed (Liquidity pool). Any traders long from the 80.0 level would have move their stops below this swing low at 88.50.
Price will want to sweep through this area to take out long positions.
My second target is into the 79% fib as this aligns with an order block and test the top of the previous range at the 84.00 level.
What does this mean for all USD pairs?. We should sell off over the next 6 months to a year, for all Forex pairs that have a quote currency as USD.
My first Target is below the 88.50 level as this is location where a large number of short stops are placed (Liquidity pool). Any traders long from the 80.0 level would have move their stops below this swing low at 88.50.
Price will want to sweep through this area to take out long positions.
My second target is into the 79% fib as this aligns with an order block and test the top of the previous range at the 84.00 level.
What does this mean for all USD pairs?. We should sell off over the next 6 months to a year, for all Forex pairs that have a quote currency as USD.
Time is the only true currency...how will you spend yours and what value will you receive?