Dollar Currency Index (DXY), 4-Hour, Supply reaction
I think there is a probability of a correction in the dollar index. We can notice a false breakout of the trend line and price reactions to the supply zones. It is not a perfect reversal or correction pattern (because there is no higher high), but we can expect it is a break of the structure (because of a supply reaction). Anyway, we should be careful on the nearest uptrend line and look carefully at the construction. Don't expect far TP as we have an overall uptrend.
Note
Be careful on Monday.Note
New higher high.Note
We have a perfect potential reversal or correction pattern now. The first red Heikin-Ashi candle may be a great idea for shorting USD.Note
idea unrealized
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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.