DXY Still have some move to the upside**Monthly Chart**
Last month's candle closed bullish and as a key reversal to the upside indicating a continuation move of DXY to the upside at least to 106 level and balancing monthly engulfing levels at 107. This tells me that other pairs such as EURUSD & GBPUSD still have room to move lower to the discount zone (extreme demand zone) before deciding to move higher.
Note: I don’t trade DXY but I use it as an indication when analyzing other currency pairs linked to USD.
**Weekly Chart**
There is a weekly High at around 105 level followed by a liquidity pool imbalance between 106 and 107 level. These levels will be critical for DXY if it wants to break to the upside. However, last week candle closed as doji (indecision) which was due to low movements in the market last week.
**Daily Chart**
Last week move was only a continuation of the upswing of the previous week which coiled near the MC candles of 14 Feb 2024. I will be watching the market reaction near the weekly high and look for a sign to suggest the next move for other pairs against USD.
