DXY made an excess high (circled), and this indicate the chart is about to turning down. Ideally DXY will turn down to 98.50 area. if it's so the formation will be a changing its behaviour (COB). But I don't see and an aggressive selling on the following day (today), will it surprise us to the upside ? Excess high or Upthrust shall initiate a down move, if not it shows that the demand is still high .. For now, I like to find low risk for selling the USD, then will work on the following chart.
Note
DXY has a responsive buyer above the lower balance, if DXY trade above 99 level, we will see DXY to test the high. as I mentioned earlier, I must watch more on my bearish bias on this structure due to absence of the aggressive seller. but lack of higher buyer, likely the buyers will throw the towel and bring the structure to go much lower
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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.