DXY printed a rather bullish candle yesterday. And that should provide further upside for today. Indeed, that BOJ news seem to be a trigger for that, as DXY went higher.
In terms of price action, yesterday's candle looked like a reversal candle which could trigger further downside today(as it did now) but at the same time BZ could act to hold the bottom. Given that the down move has started, looking for price to trade above BZ to try a long for a move to 1.100 and 1.1030. In terms of DXY, 102.6 here is resistance. Looking for rejection here.
In terms of price action, yesterday's candle looked like a reversal candle which could trigger further downside today(as it did now) but at the same time BZ could act to hold the bottom. Given that the down move has started, looking for price to trade above BZ to try a long for a move to 1.100 and 1.1030. In terms of DXY, 102.6 here is resistance. Looking for rejection here.
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
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.