DXY has been making a series of LH's & LL's, Price is currently testing previous support which is now resistance, 1HR candle has now printed a shooting star which is a reversal pattern.
3 confluences to suggest price will go lower.
The DXY has broken the downward trendline and is about to test resistance
We will wait for price to break resistance and retest before going long!
There are signs of divergence all over the place on this pair and with the fall of the USD I am looking for price to shoot up
This has danced around all week and now with the USD falling I can see this rising at some point early next week
Once price breaks resistance I will be placing my first buy to the next line of resistance
Previously at the marked level of support price shot up through a level of resistance and all the way to the second level of resistance
I anticipate the same thing happening again.
I placed a buy last week and price shot up only to come back and test support BUT i see price shooting off again to the moon
As we can see from the chart price heavily rejected support and is heading down to an existing support level
I am waiting for price to retrace and break through then we will be buying to the target area
As you can see from my previous charts analysis was correct, price couldnt break resistance so we were looking for sells on the lower TFs now price is testing resistance and should break through so we look for buys
With this happening the USD is gonna dump all over the place so look out...
The DXY is currently consolidating in this area on the monthly chart.. from what i can see price is being rejected heavily from above
When price eventually breaks support I am going for a LONG ASS SELL
The US Dollar Index is currently on the verge of a very critical resistance, #DXY can be considered as an important leading indicator in the course of the markets on a global scale.. The increase of # DXY significantly reduces the risk appetite of investors in the markets and the demand for the dollar increases. In this context, examining the #DXY chart gives...