DXY took out a key low at 101 with strong reaction back up into the range established in August-September 2022.
Idea: DXY will strengthen in upcoming months, pushing the risk on lower.
Target for lower highs is around 50% of established range, which for fans of Fibonacci retracement tool is around 0,618-0,705 of current range.
Target Price: 110-111
If we see strength around these levels, top of range or new highs will be on the cards.
Idea: DXY will strengthen in upcoming months, pushing the risk on lower.
Target for lower highs is around 50% of established range, which for fans of Fibonacci retracement tool is around 0,618-0,705 of current range.
Target Price: 110-111
If we see strength around these levels, top of range or new highs will be on the cards.
Note
Deeper pullback than expected, forming double bottom right now, there is a chance it'll break down further to 99.6 area.Observing next moves.
Note
Confirmed push from the double bottom with Market Structure Break on higher time frame.Next stop 106 - we'll see there if we push higher for the 110-111 area
Note
Idea was clearly wrong, but if DXY will remain strong, I'm still expecting the 110-111 price level to be the potential turn around point.
Innovative all-in-one trading and backtesting platform
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
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.
Innovative all-in-one trading and backtesting platform
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
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.