DXY UPDATE
Updated
This is an update to the earlier DXY analysis.
We can see that price failed to create new highs and has taken out the April and June lows.
With information we can look for sells in pullbacks to inefficiencies/imbalance. Next target is the Yearly equilibrium zone.
With buys on GU and EU.
We can see that price failed to create new highs and has taken out the April and June lows.
With information we can look for sells in pullbacks to inefficiencies/imbalance. Next target is the Yearly equilibrium zone.
With buys on GU and EU.
Note
Update on this analysis. We can see the DXY slowly trade into the daily FVG with little momentum. This shows that there is little will to push price higher. So we can expect lower prices to delivered.
This movement correlated with GU trading into the DAILY FVG(bullish).
Also, on the fundamental side we have seen the outcome of the current election campaign in USA.
The instability and uncertainty will have big money to hedge position against the dollar. This has been pushing price to the down side.
I'm currently looking to short the dollar. All I'm looking for is news to fuel the move lower towards equilibrium.
But not the market is unpredictable, so we only react to price action.
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