Looking at 2 zones for potential pullbacks on USD. With DXY rising all of last week, and with Metals and indices taking a beating, I believe there is some USD Downside coming.
I have 2 Zones prepped and ready for DXY Pullbacks
107.28-108 - Should provide some pullback. Heavily Tested Previous Key Level + 61.8% Fibonacci meeting in the same zone, I will be looking for XAU/USD Buys when/if Price reaches these zones.
109.3-109.65 - Again another zone for potential counter trades, at this level we have a strong KL, approaching 110 round/psychological numbers. There is also the 76.4 Fibonacci sitting at 109.95
DXY ALONE IS NOT ENOUGH CONFLUENCE
IDEAL SCENARIO FOR METALS BUYS $$$$$$
DXY Hitting RESISTANCE Level
DOW,NAS and S&P Hitting SUPPORT levels
US10Y Hitting Resistance level
I have 2 Zones prepped and ready for DXY Pullbacks
107.28-108 - Should provide some pullback. Heavily Tested Previous Key Level + 61.8% Fibonacci meeting in the same zone, I will be looking for XAU/USD Buys when/if Price reaches these zones.
109.3-109.65 - Again another zone for potential counter trades, at this level we have a strong KL, approaching 110 round/psychological numbers. There is also the 76.4 Fibonacci sitting at 109.95
DXY ALONE IS NOT ENOUGH CONFLUENCE
IDEAL SCENARIO FOR METALS BUYS $$$$$$
DXY Hitting RESISTANCE Level
DOW,NAS and S&P Hitting SUPPORT levels
US10Y Hitting Resistance level
Comment:
Worked to a T