DXY Where will be the next move?
**Monthly Chart**
Last month's candle closed as bullish but within the range of the previous monthly candle. This month (Feb 2024) started moving higher. I would expect that the price will try to test the liquidity pool of Nov 2023 at around 106 level. Therefore other key currencies will move to discount levels for opportunity movements against DXY.
**Weekly Chart**
DXY closed bullish for the 5th consecutive week. If the price breaks the imbalance candle above 104.50 then it will move aggressively to test 106 and 107 levels. Currently, it is at sensitive levels. This also suggests waiting for a break of structure or continuation of the current structure for currencies pairs with USD.
**Daily Chart**
Next week I will be observing the movement of DXY. Will it break and move higher or will it react to the high and start moving lower.?
Last month's candle closed as bullish but within the range of the previous monthly candle. This month (Feb 2024) started moving higher. I would expect that the price will try to test the liquidity pool of Nov 2023 at around 106 level. Therefore other key currencies will move to discount levels for opportunity movements against DXY.
**Weekly Chart**
DXY closed bullish for the 5th consecutive week. If the price breaks the imbalance candle above 104.50 then it will move aggressively to test 106 and 107 levels. Currently, it is at sensitive levels. This also suggests waiting for a break of structure or continuation of the current structure for currencies pairs with USD.
**Daily Chart**
Next week I will be observing the movement of DXY. Will it break and move higher or will it react to the high and start moving lower.?
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