Hello traders!
After closely analyzing the Dollar Index (DXY), I've spotted a key development that has shaped my bearish bias on AUDUSD. The DXY recently broke below a higher timeframe low, rejecting strongly off the July 2023 low after sweeping liquidity on the Weekly chart. This kind of price action signals potential bullish momentum on the dollar in the coming days.
As a result, I’m anticipating weakness across major USD pairs, AUDUSD, EURUSD, GBPUSD, and NZDUSD included.
Here’s my trade setup for AUDUSD:
Entry: 0.63550
Target 1: 0.62748
Target 2: 0.62061
Target 3: 0.61506
Target 4: 0.60951
Stop Loss: 0.64020
I’m expecting a move to the downside if the resistance level at 0.6355 continues to hold, especially with DXY looking primed for further upside.
📈 This idea is based on a combination of liquidity grabs, higher timeframe structure, and DXY confluence, a powerful trio when it comes to swing setups.
If this analysis resonates with your view or adds value to your trading, a boost would be greatly appreciated! 🙌
Stay sharp and trade safe! 💰
DXY (Dollar Index) on Weekly Timeframe
After closely analyzing the Dollar Index (DXY), I've spotted a key development that has shaped my bearish bias on AUDUSD. The DXY recently broke below a higher timeframe low, rejecting strongly off the July 2023 low after sweeping liquidity on the Weekly chart. This kind of price action signals potential bullish momentum on the dollar in the coming days.
As a result, I’m anticipating weakness across major USD pairs, AUDUSD, EURUSD, GBPUSD, and NZDUSD included.
Here’s my trade setup for AUDUSD:
Entry: 0.63550
Target 1: 0.62748
Target 2: 0.62061
Target 3: 0.61506
Target 4: 0.60951
Stop Loss: 0.64020
I’m expecting a move to the downside if the resistance level at 0.6355 continues to hold, especially with DXY looking primed for further upside.
📈 This idea is based on a combination of liquidity grabs, higher timeframe structure, and DXY confluence, a powerful trio when it comes to swing setups.
If this analysis resonates with your view or adds value to your trading, a boost would be greatly appreciated! 🙌
Stay sharp and trade safe! 💰
DXY (Dollar Index) on Weekly Timeframe
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔥Free Telegram Channel For Signals👇
t.me/+cJIWSM9RjvgyYzg0
t.me/+cJIWSM9RjvgyYzg0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.