DXY did not continue the 4-hour upward wave and created a daily correction pattern.
So, there are various cases.
The two most likely cases are
If the correction pattern is completed by rebounding in the daily demand zone below the first
The second is when the rebound fails, breaks the low, and the daily downtrend continues.
The DXY is nearing a bearish trend as a new daily downtrend correction trend line is being built. But if that line is broken, there will be other possibilities because it is expanded with weekly correction.
So, there are various cases.
The two most likely cases are
If the correction pattern is completed by rebounding in the daily demand zone below the first
The second is when the rebound fails, breaks the low, and the daily downtrend continues.
The DXY is nearing a bearish trend as a new daily downtrend correction trend line is being built. But if that line is broken, there will be other possibilities because it is expanded with weekly correction.
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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.
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.