11/26/23 DXY Weekly Outlook
#DXY #WeeklyOutlook
Last week did as expected by continuing to take out highs. We were busy Sunday to Wednesday and stalled out on early market closure because of the holiday. Next week should be busy with a lot of news and we may also get some early reports on Black Friday and Cyber Monday sales. We have news to watch out for everyday up until Friday at 11am when Powell speaks. However, we don’t have #NFP until next Friday. So #powell, #UnemploymentClaims, #PCE, #gdp, #Consumerconfidence, will be the big news releases to watch out for
#BullishCase: A bullish move on Dollars means that we are seeing a LTF move through the 4H-FVG. Once we move through it we see that price uses the 4H-FVG as an IFVG setup to the upside. We then target the previous -POIs, the PDH from Friday and back into the D-IFVG range.
#BearishCase: A bearish scenario is a bit more probable at the moment still as we have a PDL from Friday within a few points below us and last week’s PWL as well. The initial moves of the week will need to be how we handle the 4H-FVG made on Friday near the YOP. If we get a reaction within that range we can see continuation to the down side from there.
XXX/USD bullish
USD/XXX bearish
1H chart
4H chart
D chart
W chart
#DXY #WeeklyOutlook
Last week did as expected by continuing to take out highs. We were busy Sunday to Wednesday and stalled out on early market closure because of the holiday. Next week should be busy with a lot of news and we may also get some early reports on Black Friday and Cyber Monday sales. We have news to watch out for everyday up until Friday at 11am when Powell speaks. However, we don’t have #NFP until next Friday. So #powell, #UnemploymentClaims, #PCE, #gdp, #Consumerconfidence, will be the big news releases to watch out for
#BullishCase: A bullish move on Dollars means that we are seeing a LTF move through the 4H-FVG. Once we move through it we see that price uses the 4H-FVG as an IFVG setup to the upside. We then target the previous -POIs, the PDH from Friday and back into the D-IFVG range.
#BearishCase: A bearish scenario is a bit more probable at the moment still as we have a PDL from Friday within a few points below us and last week’s PWL as well. The initial moves of the week will need to be how we handle the 4H-FVG made on Friday near the YOP. If we get a reaction within that range we can see continuation to the down side from there.
XXX/USD bullish
USD/XXX bearish
1H chart
4H chart
D chart
W chart
