DXY Jan 2021 PA and Divergence with Time Speculation
Updated
as we had analyzed this index earlier in lower time frames (240,D), we are getting more confluences or trend reversal even in the higher time frames of weekly.
we can see the price has reached one of its significant support zones and it is diverging with MACD and Its Histogram so forming a Bullish Divergence, which is the sign of trend reversal and we may have more confirmation as Price Action analysis also show that.
the TP zone has been Specified by Fibonacci retracement levels and Fibonacci Time base tools.
we may have some range and Accumulation at the same Support zone which the price is Currently located or instant trend reversal as USA Administration policies are also changing Due to the presidential Elections or if Washington faces more riot and chaos so does the index fall are reaches the heavy Support zone (Green Box)
we can think of shorting the USD Quote Currency Pairs such as EURUSD, GBPUSD, AUDUSD...
and long the USD Base Currency Instruments like USDJPY...
what do you think about it?
we can see the price has reached one of its significant support zones and it is diverging with MACD and Its Histogram so forming a Bullish Divergence, which is the sign of trend reversal and we may have more confirmation as Price Action analysis also show that.
the TP zone has been Specified by Fibonacci retracement levels and Fibonacci Time base tools.
we may have some range and Accumulation at the same Support zone which the price is Currently located or instant trend reversal as USA Administration policies are also changing Due to the presidential Elections or if Washington faces more riot and chaos so does the index fall are reaches the heavy Support zone (Green Box)
we can think of shorting the USD Quote Currency Pairs such as EURUSD, GBPUSD, AUDUSD...
and long the USD Base Currency Instruments like USDJPY...
what do you think about it?
Note
on its long wayTrade closed: target reached
Trade active
we have Updated this Idea:
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.