DXY Analysis. Was that Bottom?
Updated
Hello everyone. I want share my idea about dollar index price action.
At 23 November i shared my idea where i said dollar was dead and it were going to fall and it happened ( I will link in that idea that post) In my last stop i said that price was my interesting price where we are now.
Yesterday we had some aggressive buyers, they have good reaction at weekly LVL but will be that reaction sing of trend change? i think its sing of correction. we have here pretty bearish movement which broke lot of resistances which were strong, in my opinion long dollar is early, if it will have some strong reaction at daily resistance then we can say it was correction but lets see what will be trend from New Year. Here is second reason why i think that, US20 bond is still pretty bearish, their economy is not strong enough yet for rise dollar price but who knows, i short both in November ( i will link that analysis in this idea)
For my idea i have some scenes.
Scene 1 - price took buy orders at weekly support which was lot of and it had reaction after big fall but sellers is still strong and price still fall down.
Scene 2 - price don't have enough seller, for that it testing daily resistance where seller will active, it will make correction and continue fall.
Scene 3 - price took lot of strong buy orders, this weekly support zone was interesting also for hedge funds and for new year trend will change which will be sing for new Position signals.
Always manage your risk and make your own research!!!
At 23 November i shared my idea where i said dollar was dead and it were going to fall and it happened ( I will link in that idea that post) In my last stop i said that price was my interesting price where we are now.
Yesterday we had some aggressive buyers, they have good reaction at weekly LVL but will be that reaction sing of trend change? i think its sing of correction. we have here pretty bearish movement which broke lot of resistances which were strong, in my opinion long dollar is early, if it will have some strong reaction at daily resistance then we can say it was correction but lets see what will be trend from New Year. Here is second reason why i think that, US20 bond is still pretty bearish, their economy is not strong enough yet for rise dollar price but who knows, i short both in November ( i will link that analysis in this idea)
For my idea i have some scenes.
Scene 1 - price took buy orders at weekly support which was lot of and it had reaction after big fall but sellers is still strong and price still fall down.
Scene 2 - price don't have enough seller, for that it testing daily resistance where seller will active, it will make correction and continue fall.
Scene 3 - price took lot of strong buy orders, this weekly support zone was interesting also for hedge funds and for new year trend will change which will be sing for new Position signals.
Always manage your risk and make your own research!!!
Note
Scene 3 has perfect movement but lets see what we will have now is it correction or not. my bet from here is short
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.