DXY is heading to a Monthly FVG
On Weekly Chart we can see the nice IOFED Entry formed inside a Monthly FVG which is overlapping a Weekly FVG that can shows us the price going to move lower.
On Daily I think price will move above Friday`s high before move lower.
The Target on the indices has been reached and I think more down move can be expected . We have reached the Monday Low and we have a Bearish breaker with FVG where price can go back up to, that level where we can looking for a Short entry. Targeting a full close of the 4H FVG that has been created on 10.11.2022.
All The Short term target has been reached on DXY and on the EU as well that I mentioned in my last week analysis.
Now I think the Dxy will go lower into the Weekly FVG and will reach 103.05 But because the GU and EU reached a significent High TF. level I think only one of them will go higher as the DXY going lower. I would say the EU will go higher and GU...
DXY showing weakness after hit the VIB on the daily, now we can anticipate bearish move below 104.876 where we have an equal Low and Balanced Price Range on 1h time frame, long term I think it will go below 103.673 weekly low but I dont think it will happen this week.
On EU we have a weekly FVG above price I think we can reach that this week.
As I mentioned yesterday the DXY can reach into a D Volume Imbalance (VIB) but on the EU we didn't get an entry for short The GU was a better play this time. Now the question is , can we see a reversal formation on the DXY to go long on EU or DXY will continue to the upside.
Short term Bullish on DXY till it goes above last Friday's High so that can provide a short on the EU. we have a 1H balanced price Range (BPR) combined with a 1H bearish breaker if price run up into that BPR/-Breaker and shows us a rejection we can go short targeting a last Friday's Low.
