Are we done with the inflation? Is it time for the dollar to decline? It failed to rally beyond 97 looking for a drop up to 95 or a two-week consolidation phase, for now, I am bearish.
There is a pool of liquidity above 1646 looking for price to reach that level, there are other fundamental reasons with the US economy.
I am on this trade already from Monday, targeting 300+ pips, if it breaks and the 4HR structure then I am 50% closer to my target. Good luck if you are following it too. I feel like giving my trades moral support...like go GA, go GA....you can do it.
If the dollar breaks above 97.00 then we can short other foreign currencies against the dollar. If it does not then we are bullish on foreign currencies. I use DXY as extra confirmation, you can see on my published idea NZDUSD I am bullish but waiting patiently for DXY. Waiting for price action to validate or invalidate our ideas. Good luck.
Not a man of many words, let price confirm and trading view demands hundreds of words, come on it's an idea, not an essay.
Analysed over the weekend, not too many words let price action speak for itself.
Going long at the invalidation point, practicing swing trades as my new approach to the market.