DXY - 06Apr2022
On the daily, DXY have completed its Wave 4 correction and is now bouncing higher above previous resistance around 99.20 to complete Wave 5. It is inevitable to bounce higher to retest psychological resistance of 100.
On the H4, price bounced back higher after Mar ISM Services missed estimates but beats previous month data. Price action indicates Wave 5-(2) correction completed and Wave 5-(3). With H4 Stochastic is at resistance, further upside might be limited. If price pull back deep enough, Wave (1) & (2) have to be adjusted back earlier.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, DXY have completed its Wave 4 correction and is now bouncing higher above previous resistance around 99.20 to complete Wave 5. It is inevitable to bounce higher to retest psychological resistance of 100.
On the H4, price bounced back higher after Mar ISM Services missed estimates but beats previous month data. Price action indicates Wave 5-(2) correction completed and Wave 5-(3). With H4 Stochastic is at resistance, further upside might be limited. If price pull back deep enough, Wave (1) & (2) have to be adjusted back earlier.
This is for personal record purposes only, not financial advise or solicitation of trade.