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It's been a long time DXY has seen an engulfing H1 candle
got the 50%retrace into the red bar
i am taking orders short $ when dxy drops under the engulfing candles
FWIW i am a scalper, but could see this turning into a runner
H1 chart quite self explanatory i guess, target 50-100 pips when leaving the wedge
i'll add higher tf chart in a moment
Weekly chart shows a pretty good fib fit, inside bars (for now) since 2 weeks
risk is a visit to the low lows
good trading
on the daily chart shown i see yesterdays candle as a first impuls off the lows of jan 2016
todays candle is retracing that body atm
on 15m tf we have the 200sma and the H1 tf gives us the 50sma around 0,686608
i took a first long just under that sl 15 pips as this is not a set and forget surefire trade whilst draghi is set to speak in 15minutes
i will build on...
current level corresponds to the left shoulder on the daily and to earlier levels on the left
on the H4 timeframe it is right at the 200sma and bouncing off that for now
i have a large long here at 0,6584 and will use the 200sma on H4 as judge and jury
UC has started the month june with a startling descent and is hovering around 1,33777 for a couple of hours now
right at longer term Support / Resistance level and the 50% retrace on chart is around 1,33655
i have a long bias here but will cut when it gets below the 50% which could indicate a bigger down move coming
first long at 1,33777 risking 15 pips
weekly chart... adding hourly chart in comments. looking on lower timeframes for entry below the fib line around 137
possible 'catching the knife trade' so starting smaal and looking to build every 25 pips