The dollar is crumbling to dust fast. The latest tariff news with China is going to spiral the already bearish market into a future spiral.
The earning moving average values (red 5, blue 10, yellow 50, white 100) are all below price action currently. On almost all of the time frames.
We are currently sitting at a very minor support zone as circled in yellow. Price should slip easily 100.60 possibly slightly less. The bottom orange box is the bottom support zone of the DXY low since 2023.
Place your stop loss slightly above 103.25 to prevent a liquidity grab. The bears are in control of this current market do not be foolish. TRADE THE TREND!!!
The earning moving average values (red 5, blue 10, yellow 50, white 100) are all below price action currently. On almost all of the time frames.
We are currently sitting at a very minor support zone as circled in yellow. Price should slip easily 100.60 possibly slightly less. The bottom orange box is the bottom support zone of the DXY low since 2023.
Place your stop loss slightly above 103.25 to prevent a liquidity grab. The bears are in control of this current market do not be foolish. TRADE THE TREND!!!
Trade closed: target reached
Our target was hit. Talks of the devaluation of the dollar are still on the rise. This is still a very critical level for the dollar. There still may be a decrease in price, but this trade was a quick scalp for an easy 2 percent. I think it's best to take profit here and see what price action will do over the next few days before entering back in. Typically we would enter long at these kinds of levels, but with all the trade wars news I think that is a bad idea right now.
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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.