DXY has already reached the weekly supply zone zone. Therefore, it is highly likely that currencies such as USDCAD and USDJPY will reach the weekly supply zone. If so, it will be an expanded flat pattern, and also a sell zone, as the retracement will come from the weekly supply zone. However, if it finds support above the red dotted line, the weekly uptrend could continue. Conversely, if it stays below the dotted red line, it will descend into the monthly demand zone to complete the weekly bearish pattern.
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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.