DXY Strength After Consolidation: Decoding the Potential Bearish
Updated
After consolidation, the DXY exhibited strength today. However, my analytical perspective suggests that this apparent rally is likely to be deceptive and will eventually diminish. Examining the charts, the price action signals a bearish outlook for the DXY.
Primarily, the DXY takes out a high of the Non-Farm Payroll (NFP) period and is currently trading in proximity to a weekly bearish order block. Additionally, it has ascended up to 70% of the Fibonacci retracement within the current range.
If the lower time frames give a shift in the market structure, it is my belief that the DXY is poised for a move towards the selling side, with an initial target around 100.252. It remains to be seen how the market unfolds and whether these anticipated developments materialize. #ForexAnalysis #TradingInsights #DXY #MarketOutlook
Primarily, the DXY takes out a high of the Non-Farm Payroll (NFP) period and is currently trading in proximity to a weekly bearish order block. Additionally, it has ascended up to 70% of the Fibonacci retracement within the current range.
If the lower time frames give a shift in the market structure, it is my belief that the DXY is poised for a move towards the selling side, with an initial target around 100.252. It remains to be seen how the market unfolds and whether these anticipated developments materialize. #ForexAnalysis #TradingInsights #DXY #MarketOutlook
Note
DXY give good reaction let see how it unfoldNote
waiting for somoe displacement which will confirm my bais otherwise am sideline
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