DXY Areas of Potential Dollar Pullback Nearing!
Looking at 2 zones for potential pullbacks on USD. With DXY rising all of last week, and with Metals and indices taking a beating, I believe there is some USD Downside coming.
I have 2 Zones prepped and ready for DXY Pullbacks
107.28-108 - Should provide some pullback. Heavily Tested Previous Key Level + 61.8% Fibonacci meeting in the same zone, I will be looking for XAU/USD Buys when/if Price reaches these zones.
109.3-109.65 - Again another zone for potential counter trades, at this level we have a strong KL, approaching 110 round/psychological numbers. There is also the 76.4 Fibonacci sitting at 109.95
DXY ALONE IS NOT ENOUGH CONFLUENCE
IDEAL SCENARIO FOR METALS BUYS $$$$$$
DXY Hitting RESISTANCE Level
DOW,NAS and S&P Hitting SUPPORT levels
US10Y Hitting Resistance level
I have 2 Zones prepped and ready for DXY Pullbacks
107.28-108 - Should provide some pullback. Heavily Tested Previous Key Level + 61.8% Fibonacci meeting in the same zone, I will be looking for XAU/USD Buys when/if Price reaches these zones.
109.3-109.65 - Again another zone for potential counter trades, at this level we have a strong KL, approaching 110 round/psychological numbers. There is also the 76.4 Fibonacci sitting at 109.95
DXY ALONE IS NOT ENOUGH CONFLUENCE
IDEAL SCENARIO FOR METALS BUYS $$$$$$
DXY Hitting RESISTANCE Level
DOW,NAS and S&P Hitting SUPPORT levels
US10Y Hitting Resistance level
Note
Worked to a T
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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.