DXY Weekly Market Overview
Dxy chart looking at the daily it is a pretty tricky one here because last week we had a break to the downside and we have a break to the up side and a very very wide move, so this move to the downside and what happened was we're gonna see if this is a correction and continuation or if this was the impulse, And as we can see on the daily timeframe, Dxy did close back up above this important resistance and the support area so on
the daily and the weekly we have a close above that.So it is possible that the dollar keep pushing higher for another test to the upside,
and yes is it possible that we may see this as a possible correction and we move lower ,if we see a break of the trendline, so as for now we're seeing higher highs and higher lows on the four-hour time frame, and week we may see a continuation ,as long as we are above this trendline holding as support as it did last two times then we may see a continuation.
for a bearish move we want to see a strong break below trend line to really see that the correction is over and that the market fails to make a new high then we may see continuation.
otherwise it is still a possible continuation to the upside as far as we are above the trend line
***Comment your thoughts down below!
the daily and the weekly we have a close above that.So it is possible that the dollar keep pushing higher for another test to the upside,
and yes is it possible that we may see this as a possible correction and we move lower ,if we see a break of the trendline, so as for now we're seeing higher highs and higher lows on the four-hour time frame, and week we may see a continuation ,as long as we are above this trendline holding as support as it did last two times then we may see a continuation.
for a bearish move we want to see a strong break below trend line to really see that the correction is over and that the market fails to make a new high then we may see continuation.
otherwise it is still a possible continuation to the upside as far as we are above the trend line
***Comment your thoughts down below!
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