TVC:DXY   U.S. Dollar Currency Index
Following DXY's PA, we can see that we are breaking structure to the upside. Even though I do not trade on the DXY I still use it as it can be used as confluence for currency pairs.
Comment: The fact that DXY took off fairly fast, you can expect a retracement to go and clear some IPA. As my mentor John Fib would say, "What's fast doesn't last."

Comments

The market looks to be stalling, can’t tell if we are going to see distribution or not but if we do then it gives the bias extra conformation. But don’t forget there’s more than 1 group controlling the market. So if we don’t see a deep retracement today and the market re-accumulated. We should see distribution within the week to clear up the orders left behind
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