🔰 Pair Name : DXY
🔰 Time Frame : 4H
🔰 Scale Type : SMALL/ MID Scale
🔰 Direction : SELL
📉📊 Last Friday, the DXY (US Dollar Index) experienced a sharp decline after the release of the Non-Farm Payrolls (NFP) data. The price had reached the Fibonacci level of 78.6% at 102.722, which led to a significant drop.
💹🔍 Today, on Monday, the DXY seems to be in selling liquidity collection mode. Currently, the price has reached the local Fibonacci level of 61.8%. Traders are anticipating a potential retracement to the Fibonacci level of 50% before a potential upward movement to fill the existing imbalance.
⬆️🔜 After the upward move, there's an expectation that the price might head down again towards the Fibonacci level of 50% at 101.574.
Trade with caution and keep an eye on the key Fibonacci levels for potential reversals. 🚦🧐 Happy trading!
🔰 Time Frame : 4H
🔰 Scale Type : SMALL/ MID Scale
🔰 Direction : SELL
📉📊 Last Friday, the DXY (US Dollar Index) experienced a sharp decline after the release of the Non-Farm Payrolls (NFP) data. The price had reached the Fibonacci level of 78.6% at 102.722, which led to a significant drop.
💹🔍 Today, on Monday, the DXY seems to be in selling liquidity collection mode. Currently, the price has reached the local Fibonacci level of 61.8%. Traders are anticipating a potential retracement to the Fibonacci level of 50% before a potential upward movement to fill the existing imbalance.
⬆️🔜 After the upward move, there's an expectation that the price might head down again towards the Fibonacci level of 50% at 101.574.
Trade with caution and keep an eye on the key Fibonacci levels for potential reversals. 🚦🧐 Happy trading!
Trade active
Comment:
Look at DXY now, what did we say? Liquidity is the key.
Trade closed: target reached
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