DXY Critical Point 11/02/2021
Updated
we can see the price has showed some resistance and felled off back to its bearish trend but yet we have a heavy Accumulation zone at 88-90to which market has already showed some reaction and it stood as a support area, we may have some retrace back up to the 38% or 50% of current bearish wave Fibonacci levels and then heads down to the -61.8 of the same wave expansion,
we have defined few TP areas by the confluences of Fibonacci and Price Action where we expect to get if DXY continued its down trend.
from the other side we are having some fundamental news also coming which is not seems to be that good for the greenback and some how supports the fall of the Currency temporally
by this analysis we can be more bullish on the USD Quote instruments and bearish on Base ones.
we are publishing this idea Neutral we had seen some Regular Bullish Divergence with MACD coming up in the Weekly Time Frame which is in the linked ideas
we have defined few TP areas by the confluences of Fibonacci and Price Action where we expect to get if DXY continued its down trend.
from the other side we are having some fundamental news also coming which is not seems to be that good for the greenback and some how supports the fall of the Currency temporally
by this analysis we can be more bullish on the USD Quote instruments and bearish on Base ones.
we are publishing this idea Neutral we had seen some Regular Bullish Divergence with MACD coming up in the Weekly Time Frame which is in the linked ideas
Note
improving the strengthTrade closed: target reached
Long TP Achieved
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