Directional Bias: Bearish
Narrative
- The initial forecast i did for DXY played out well last week(tradingview.com/chart/DXY/LplfnCqu-DXY-Weekly-Overview/) with volatility coming into the market to push prices lower. I am still bearish on the dollar
- We traded below previous months low, and this is where i would like to pause to get new context to go lower from the weekly timeframe, after the creating an expansion candle, would like to see weekly create a new FVG low to indicate further decent for the DXY
- The Daily Has a bearish FVG overlapping with the Fair Value area. this is where i would like to see price continue lower from for this week. However with volatility coming into the market from Tuesday CPI, we may see price consolidate today.
Targets:
- Previous Weeks Low - 102.300
Medium Term Targets:
- Monthly Low 101.030
- Monthly Swing Low- 100.320
- Quarterly- 99.220
Narrative
- The initial forecast i did for DXY played out well last week(tradingview.com/chart/DXY/LplfnCqu-DXY-Weekly-Overview/) with volatility coming into the market to push prices lower. I am still bearish on the dollar
- We traded below previous months low, and this is where i would like to pause to get new context to go lower from the weekly timeframe, after the creating an expansion candle, would like to see weekly create a new FVG low to indicate further decent for the DXY
- The Daily Has a bearish FVG overlapping with the Fair Value area. this is where i would like to see price continue lower from for this week. However with volatility coming into the market from Tuesday CPI, we may see price consolidate today.
Targets:
- Previous Weeks Low - 102.300
Medium Term Targets:
- Monthly Low 101.030
- Monthly Swing Low- 100.320
- Quarterly- 99.220
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