In this weekend analysis, I am still paying attention to the higher time frame downtrend on the dollar index while acknowledging the higher low support on the daily chart forming an inverse Head and Shoulders pattern. On the 4H and lower timeframes we have a strong ceiling made up of the 200SMA and 50SMA resistance level and need to break through from the 20SMA Line in the sand support. This weeks trade plan and thesis is for price to hold above the 20 SMA on the 4H timeframe expecting a potential dip to the zone of 97.128 (liquidity zone) and then bounce up to a weekly target of 97.7. This Thesis is INVALIDATED if a candle opens and closes below 97.015. I wish everyone a great trading week. Thank for supporting my publications and trade ideas. Cheers!!!
Trade active
Wow!! we got our weekly target already hit, There is more after a pullback on the 'God Candle' on the daily chart. Next target is 99.185. Note
DXY FOR THE FIRST TIME SINCE IT'S February 13th, 2025 DECLINE HAS NOW RECLAIMED THE DAILY 50 EMA. Congratulation to the Green Buck!! Note
HEAD & SHOULDERS STRUCTURE IS NOW SET ON STONE. THERE WILL BE PULLBACKS BUT ULTIMATE TARGET OF 101.300 IS EXPECTED
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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.