$DXY outlook for the week of July 5
Hello Icecoldtraders!
DXY did rally up into a 1hr supply and dropped back down into a 1hr demand as drawn in the previous post.
We are currently in a key demand area, which is also a flip zone area and previously a ceiling turn floor area. Too many technical terms here. 😂😂
What should we expect for theDXY
Since we are in a key area, I do expect this demand to hold and challenge higher-up supply zones to reaffirm market sentiments. On the weekly charts, we are seeing a RBR, and on the daily we are seeing a RBD. So we are still kinda stuck in a limbo and maybe they are not done with building the final structure. Gonna be an interesting week ahead to see what structure forms. With a 15 min supply being put in above the current demand zone, I feel this 15min supply zone is not gonna hold strong and probably break. When the supply zone does break we should see drops in currency, futures and other stuff backed by the US Dollar. We could probably see price going back up to the 93 handle.
That will be all from me today. Looking forward to the week ahead and trade safe everyone!
Do give me a follow, like and comment! 😊
Thank you!
Icecoldbear
DXY did rally up into a 1hr supply and dropped back down into a 1hr demand as drawn in the previous post. We are currently in a key demand area, which is also a flip zone area and previously a ceiling turn floor area. Too many technical terms here. 😂😂
What should we expect for the
DXYSince we are in a key area, I do expect this demand to hold and challenge higher-up supply zones to reaffirm market sentiments. On the weekly charts, we are seeing a RBR, and on the daily we are seeing a RBD. So we are still kinda stuck in a limbo and maybe they are not done with building the final structure. Gonna be an interesting week ahead to see what structure forms. With a 15 min supply being put in above the current demand zone, I feel this 15min supply zone is not gonna hold strong and probably break. When the supply zone does break we should see drops in currency, futures and other stuff backed by the US Dollar. We could probably see price going back up to the 93 handle.
That will be all from me today. Looking forward to the week ahead and trade safe everyone!
Do give me a follow, like and comment! 😊
Thank you!
Icecoldbear
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