DXY Possible idea
DXY has been bullish for quite some time now. From what we can see, it has been breaking highs with momentum. It has recently retraced back just above an unmitigated demand zone, where lots of liquidity is currently hovering above. It could use this liquidity to fuel its move to the upside after it mitigates this demand area, breaking the latest weak high that awaits a liquidity run.
Trade closed manually
Price failed to break our weak high and ended up rejecting of a strong supply, giving us an internal shift of market structure. NFP also had a negative impact on the dollar. So both technically and fundamentally, dxy has proven signs of bearishness and an unwillingness to go further higher towards our tp. This leads to the termination of all longs on dxy as it has now changed trend.
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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.