DXY - 07Mar2022
DXY - 07Mar2022
On the weekly, DXY surged all the way up to 98.870 after the geo-political event intensifies and market participants flee into USD as safe-heaven. It is now at upper channel resistance, we could expect a price to have a short-term pull or consolidate next week.
On the H4, price has surged past its triangle breakout target around 98.42 to highest of 98.90. Price action is indicating completion of wave count of (5)-(III). With Stochastic at resistance, we could expect price to start consolidating/pullback for Wave (5)-(IV).
In the event of price action closing back below 97.780, this wave count will become invalid.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the weekly, DXY surged all the way up to 98.870 after the geo-political event intensifies and market participants flee into USD as safe-heaven. It is now at upper channel resistance, we could expect a price to have a short-term pull or consolidate next week.
On the H4, price has surged past its triangle breakout target around 98.42 to highest of 98.90. Price action is indicating completion of wave count of (5)-(III). With Stochastic at resistance, we could expect price to start consolidating/pullback for Wave (5)-(IV).
In the event of price action closing back below 97.780, this wave count will become invalid.
This is for personal record purposes only, not financial advise or solicitation of trade.
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