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
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
Price is currently being rejected at resistance so we can look for sells on the lower time frames, but once broken we can buy to the next level of resistance marked on the chart
Be aware that this is on an uptrend but you can scalp a profit off the 1h or 30m
95.00 resistance and 94.00 support is a key area of interest for the Dollar as you can see how price reacted previously to these levels. It has tapped 95.00 today and pulled back so there is bullish pressure there, but can the bears keep it below this level and closer to 94.00?