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Dollar Weakness continuation
Decline situation in my previous DXY analysis was a success. There is the continuation of my DXY analysis;
A (orange) - Still looking for bears to take control. As long as we remain under the blue area, that will be our main resistance area for the week. Currently bouncing on a higher timeframe bullish trend line, I am looking for a break and a nice retest for confirmation. We might al Long term more down moves.
B (red) - Still looking for bears to take control. Same technical moves from plan (A). Long term big consolidation range within S&R area and further down moves.
C (blue) - As we might be into fake bearish move as mentioned in my previous analysis, we might starting the next trading week with fake bearish moves. Breaking throughout the blue resistance area and pushing the Dollar further up to reach and bounce off the bearish trend line , also on the highlighted S&R line. Pulling out the fibs on the weekly, this projection could give us an optimal trade entry based on the retracement.
88.4 is my long term bias for the US Dollar . Price action can only determine which situation could occur and even, none of them. This will help on the direction of all USD cross pairs.
Dollar strengh = USDXXX UP / XXXUSD DOWN
Dollar weak = XXXUSD UP / USDXXX DOWN
DXY analysis;A (orange) - Still looking for bears to take control. As long as we remain under the blue area, that will be our main resistance area for the week. Currently bouncing on a higher timeframe bullish trend line, I am looking for a break and a nice retest for confirmation. We might al Long term more down moves.
B (red) - Still looking for bears to take control. Same technical moves from plan (A). Long term big consolidation range within S&R area and further down moves.
C (blue) - As we might be into fake bearish move as mentioned in my previous analysis, we might starting the next trading week with fake bearish moves. Breaking throughout the blue resistance area and pushing the Dollar further up to reach and bounce off the bearish trend line , also on the highlighted S&R line. Pulling out the fibs on the weekly, this projection could give us an optimal trade entry based on the retracement.
88.4 is my long term bias for the US Dollar . Price action can only determine which situation could occur and even, none of them. This will help on the direction of all USD cross pairs.
Dollar strengh = USDXXX UP / XXXUSD DOWN
Dollar weak = XXXUSD UP / USDXXX DOWN
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