DXY Potential Drop
As we can see we are in the weekly chart.
We currently are in a level of resistance, but as we know the more times its been tested the weaker it gets, hense the HH whick. No weekly closure was set above it so it's not to concerning.
A fib has been plotted on the chart and it clearly shows that the .78 has been tested, ideally we would look for a 2nd test to confirm this , but thats not to say it cant come through with out a 2nd test.
The target i will be looking for is the bottom blue zone which coincides with the .27
If we see the DXY loose strength we can expect the crypto currency market to rise.
We currently are in a level of resistance, but as we know the more times its been tested the weaker it gets, hense the HH whick. No weekly closure was set above it so it's not to concerning.
A fib has been plotted on the chart and it clearly shows that the .78 has been tested, ideally we would look for a 2nd test to confirm this , but thats not to say it cant come through with out a 2nd test.
The target i will be looking for is the bottom blue zone which coincides with the .27
If we see the DXY loose strength we can expect the crypto currency market to rise.
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