U.S. Dollar Index . 1W Hello dear traders and respected companions!
I always keep an eye on the DXY chart because it is one side of all the currencies in the world. Friends, this is an important chart, and its key time frames are monthly, weekly, and daily. During President Bush's term, an important event occurred where we had a Break of Structure (BoS) in the monthly chart. The chart moved upwards hastily without correction to reach the upper imbalance. The Order Block Extreme was successfully met, but the Order Block Extreme is still intact.
I’m watching to see what happens to this important Order Block after the price reaches it. With the presence of President Trump, I hope this economy makes proper reforms and I expect it to create a Change of Character (CHOCH) on a monthly basis. Then, I will wait for a major economic correction to happen, but perhaps with the price hitting this important Order Block, we may have a significant correction and then see a logical and stable upward movement from this economic chart! In summary, friends, whenever this correction is about to start, it’s time to buy in other currencies, especially for long-term and significant investments. We need to be prepared; my team and I are actively following it and we will continue.
The situation in the weekly timeframe is very bullish and moving towards BoS. If I see any changes in this trend, I will update all of these points.
Quick Conclusions:
Attention to the DXY chart: This chart has a profound impact on global markets, and analyzing it is essential.
Order Block Extreme: We must pay attention to the price reaction in the daily timeframe after it hits this Order Block!
Monitoring the economic situation: Given the political and economic changes, we expect corrections in the near future.
Readiness for buying: The best time to purchase in other currencies is when corrections begin, and we must be prepared for long-term investments.
Thank you for your support!
Fereydoon Bahrami
"A retail trader in the Wall Street trading Center (Forex)."
