In the past week, DXY has succeeded in breaking out of the falling wedge pattern, getting into a resistance area around the 105.5 level. Following the employment news, DXY fell again into the wedge pattern.
Price is likely to retest support at 103.5, asking for liquidity to rise again, maybe to 105.6 or 107.
Note the divergence in the RSI and the crossing of the 55 and 100 4 hour SMAs.
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Price is likely to retest support at 103.5, asking for liquidity to rise again, maybe to 105.6 or 107.
Note the divergence in the RSI and the crossing of the 55 and 100 4 hour SMAs.
----------------------
Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
