DXY Has Entered Risky Territory
August 27th, 2023
4H ~ because the US Dollar is clearly in such a strong uptrend, I believe the price action objective is to take out the HTF resistance. Whether or not the intention is to take liquidity or truly shift structure remains to be seen.
Until the current red/green range is resolved, markets have no clear direction. Choppy and probably great to trade high beta assets like altcoins. Investors kicking money around because markets dont wanna play ball yet.
From a HTF perspective, It looks like DXY has bottomed and is likely to shift towards bullish market structure if the "MSS" line is broken to the upside.
From there, I wouldn't be surprised if we saw the US Dollar retrace for a bit and provide markets with a relief bounce, before going on a ripper of a run. We all know what happens when the US dollar is running...
4H ~ because the US Dollar is clearly in such a strong uptrend, I believe the price action objective is to take out the HTF resistance. Whether or not the intention is to take liquidity or truly shift structure remains to be seen.
Until the current red/green range is resolved, markets have no clear direction. Choppy and probably great to trade high beta assets like altcoins. Investors kicking money around because markets dont wanna play ball yet.
From a HTF perspective, It looks like DXY has bottomed and is likely to shift towards bullish market structure if the "MSS" line is broken to the upside.
From there, I wouldn't be surprised if we saw the US Dollar retrace for a bit and provide markets with a relief bounce, before going on a ripper of a run. We all know what happens when the US dollar is running...
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