DXY Long idea
Last week we saw huge bearish volume from news that pushed price action out of this range on the daily time-frame but price action formation now is showing a bullish engulfing which is displayed as a HUGE weekly time-frame wick
The overall trend on higher time-frames is steadily bullish and it is right to assume a continuation of this trend. If we see a break back into this range with a confirmed retest of broken resistance turned support we will continue to target long for the USD
Potential to reach 98.00 - 98.500 area
Last week we saw huge bearish volume from news that pushed price action out of this range on the daily time-frame but price action formation now is showing a bullish engulfing which is displayed as a HUGE weekly time-frame wick
The overall trend on higher time-frames is steadily bullish and it is right to assume a continuation of this trend. If we see a break back into this range with a confirmed retest of broken resistance turned support we will continue to target long for the USD
Potential to reach 98.00 - 98.500 area
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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.
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.