Interesting setup in the DXY at the end of the week.
Supply and Demand levels
We are now back into the daily chart demand zone (light blue) with price is testing the hourly demand zone (dark blue) @ 93.33 - 93.15. Supply can be found between 93.96 and 94.11.
For those who use indicators for confirmation, the Relative Strength Index indicator is now at 26, well below the 30 level - See yellow circle -. Bollinger bands also show an over-extended price approaching the demand zone.
Supply and Demand levels
We are now back into the daily chart demand zone (light blue) with price is testing the hourly demand zone (dark blue) @ 93.33 - 93.15. Supply can be found between 93.96 and 94.11.
For those who use indicators for confirmation, the Relative Strength Index indicator is now at 26, well below the 30 level - See yellow circle -. Bollinger bands also show an over-extended price approaching the demand zone.
Note
Beginning of the week with price moving away from the demand zone. 93.70 to watch
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Related publications
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.