DXY IDEA (11/8/20)
Updated
D - Overall price has broken and is now trending to the downside with the price being in a back and forth trading structure, with bearish candle showing some aggressive move to the downside.
4hr - Overall Price didn't make a new High in order to shift the trend in the opposite direction. (If) price can retrace to 23% or 38% while holding structure, there can be some opp to catch some shorts.
1hr - Is showing a possible re-test at this level 92.522 with exhausting at the 4hr Support.
15m - Price is showing very slow momentum with a wick rejection at the 4hr support / Resistance if price continues downward.
4hr - Overall Price didn't make a new High in order to shift the trend in the opposite direction. (If) price can retrace to 23% or 38% while holding structure, there can be some opp to catch some shorts.
1hr - Is showing a possible re-test at this level 92.522 with exhausting at the 4hr Support.
15m - Price is showing very slow momentum with a wick rejection at the 4hr support / Resistance if price continues downward.
Note
Overall the dollar isn't showing any value due to the presidential election happening last week. Until we see the dollar move that's when we can see the value of what the dollar has to offer. Until then, sitting and waiting for the time being.
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