Dollar Index - Buy Speculation, Sell News...
You would think that due to the FED maintaining their stance with 5.50% interest rates, the market would love it... Turns out the complete opposite has happened.
On a macro horizon, the dollar index has not dropped significantly like other months that has passed, but there has been a shift in market sentiment. As this weeks price action closed out bearish below the as the up-close candle printed in April, it signifies the beginning of a potential sell-off.
On the monthly timeframe, i have got my scopes set for 102.036 equilibrium from 2021 - 2022 lows to highs dealing range.
Zooming in, i would want to see 102.574 tagged which correlates with the weekly bullish order block
102.358 is my 3rd target
It would be irrational of me to not expect some form of pullback
103.379 highest displacement for the daily volume imbalance is where my attention is also fixated at this week
On a macro horizon, the dollar index has not dropped significantly like other months that has passed, but there has been a shift in market sentiment. As this weeks price action closed out bearish below the as the up-close candle printed in April, it signifies the beginning of a potential sell-off.
On the monthly timeframe, i have got my scopes set for 102.036 equilibrium from 2021 - 2022 lows to highs dealing range.
Zooming in, i would want to see 102.574 tagged which correlates with the weekly bullish order block
102.358 is my 3rd target
It would be irrational of me to not expect some form of pullback
103.379 highest displacement for the daily volume imbalance is where my attention is also fixated at this week
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