DXY BULLISH CONTINUATION

The opportunity here on the DXY is similiar to the one I shared earlier on the USDJPY where the violation of the highs coming at the end of the week put us in a position where we have confirmation of the bullish trend & are expecting a continuation higher.

What's different about this opportunity is that to end the week we've put in an inside bar which represents a form of compression or consolidation. When this price patter forms our expectation is a breakout & because of our analysis (and the shape of the inside bar) our bias would be to look for one to the upside.

Targets are a confluence level starting with a higher timeframe level of previous structure and adding on to that with a higher timeframe 127.2 fibonacci extension & a current time frame 161.8 fibonacci extension.

If you have any questions about this idea please let me know in the comment section below. And of course I would love to hear your views as well.

Akil