It wouldn't surprise me if we see another small sell off to end the week here on the USD. Since rejecting the 115 psychological Level the market broke the bullish 4H structure to the downside. Ahead of yesterday's anticipated CPI data DXY consolidated in an intraday range - We can identify how yesterday the news was the catalyst for the market to first spike above the highs to remove the sellers stops and trap retail in longs then sharply made the reversal and made a BOS to the downside.
Since DXY broke and closed the daily candle below the intraday range the market has now retraced and potentially forming a new LH from the lower timeframe perspective - I will be monitoring PA inside of the identified 15m order block for potential reactions to confirm a move to the downside.
Since DXY broke and closed the daily candle below the intraday range the market has now retraced and potentially forming a new LH from the lower timeframe perspective - I will be monitoring PA inside of the identified 15m order block for potential reactions to confirm a move to the downside.
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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.