From what i can see before we can look to go long on the DXY we must wait for price to reach this area which i have marked out as support
No significant moves happen unless this area is reached and we are probably a few weeks away from that as yet
This is just my opinion, let me know your thoughts
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 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