Here we have dollar index chart and we are having a reversal channel formation to upside.
Look for breakout and if price does not breakout this time then look for the bottom to buy.
When dollar index moves, it means that dollar pairs will move with it as well (correlation). So you should look for sell on pairs such as NZDUSD, AUDUSD, EURUSD....
Look for breakout and if price does not breakout this time then look for the bottom to buy.
When dollar index moves, it means that dollar pairs will move with it as well (correlation). So you should look for sell on pairs such as NZDUSD, AUDUSD, EURUSD....
Note
Price did exactly as I was anticipating. Now we have a nice impulse to upside so next is to look for a flag for continuation to upside and breakout of that reversal channel. Note
Very nice move so far, Price is breaking that reversal channel, watch for correction to enter if you are not in from the bottom.Note
Here is the update. Note
As we were anticipating, price came down one more time. Watch the bottom for impulse generation.
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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.