There's a very much needed correction before US dollar moving higher. A deep one :D
DXY is still in decline from monthly chart, and have just met up with its monthly 100MA, from which it struggled a bit (and then surpassed it).
Weekly it has a nicely forming W pattern, from which it can move up quite a bit further up, but I feel it's no higher than 94.
Daily it has just finished nice jumps supported by previously formed three white knights green candles.
If supported by today's US news, the deep correction may be delayed till 94 is achieved.
TP: Weekly 50MA
SL: I don't trade DXY. Please analyse with care, SL can be as high as 93.2.
93.2 invalidates my analysis and for me meaning DXY should go and reach 94 in no time.
DXY is still in decline from monthly chart, and have just met up with its monthly 100MA, from which it struggled a bit (and then surpassed it).
Weekly it has a nicely forming W pattern, from which it can move up quite a bit further up, but I feel it's no higher than 94.
Daily it has just finished nice jumps supported by previously formed three white knights green candles.
If supported by today's US news, the deep correction may be delayed till 94 is achieved.
TP: Weekly 50MA
SL: I don't trade DXY. Please analyse with care, SL can be as high as 93.2.
93.2 invalidates my analysis and for me meaning DXY should go and reach 94 in no time.
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