DXY, decision time onboard, while with the double top and "M" formation and the CCI very close to 2% deviation this could very easily be a bounce based on the pending US rate news.
and for sure the President will not pass this time to gather some attention for his roller-coaster trade deals.
Then the news could be a bit lackluster and the DXY just break through the support/supply zone and keep on heading downward until next year. On the other hand, it and this is my 8 ball guess which is always wrong so if you do the opposite well you know. I think the DXY will head south past the 1st zone maybe 50 pips and whipsaw north maybe 100 pips or more. Then unlike the FOMC whip another time or two.
But your magic eight-ball is most likely better than mine!
Happy trading with care!
and for sure the President will not pass this time to gather some attention for his roller-coaster trade deals.
Then the news could be a bit lackluster and the DXY just break through the support/supply zone and keep on heading downward until next year. On the other hand, it and this is my 8 ball guess which is always wrong so if you do the opposite well you know. I think the DXY will head south past the 1st zone maybe 50 pips and whipsaw north maybe 100 pips or more. Then unlike the FOMC whip another time or two.
But your magic eight-ball is most likely better than mine!
Happy trading with care!