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
Now that we have broken and closed below this key level on the DXY we can expect further downisde after a few rejections from the area. If we manage to close above this key level on the 4-hour time frame then we will simply look closeout our sells on USD sell trades, but until then I remain confident we will see a further drop.
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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
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
DXY (4HR) - What we can expect from the dollar next week? Well, we can clearly see that towards the end of last week we saw some bullish movement on the DXY creating an inverse head and shoulders, this could now continue on up to the previous support area. The weekly candle could also indicate the bulls are trying to gain control.
Could we see a slight pullback before a significant downside move? Dollar is in a bad place right now, it may be getting stripped of its safe-haven currency title. I would like to see a retracement and a sell confirmation before entering this trade.
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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...