While price has been largely corrective on the dollar, price continues to trade lower in that corrective manner so instead of anticipating the deeper correction (which will come sooner or later), We should focus on what price is doing right now and trade accordingly.
GBPJPY & USDJPY both had aggressive sell-off's out of key daily areas last week, which makes achieving the daily downside targets highly probable. I'll be monitoring the current correction on both these pairs for continuation lower.
EURUSD & AUDUSD are both not on watch due to daily upside targets being achieved and no longer trading within a daily range as per my plan so I'll be risk off on these until the respective 4H structure's shift to the downside and a counter-trend is established towards fresh 1D EPD. Further upside appreciation can be expected on both these pairs in line with the DXY bias.
GBPJPY & USDJPY both had aggressive sell-off's out of key daily areas last week, which makes achieving the daily downside targets highly probable. I'll be monitoring the current correction on both these pairs for continuation lower.
EURUSD & AUDUSD are both not on watch due to daily upside targets being achieved and no longer trading within a daily range as per my plan so I'll be risk off on these until the respective 4H structure's shift to the downside and a counter-trend is established towards fresh 1D EPD. Further upside appreciation can be expected on both these pairs in line with the DXY bias.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.