DXY SHORT/ SELL
🔰 Pair Name : DXY
🔰 Time Frame : 4H
🔰 Scale Type : SMALL/ MID Scale
🔰 Direction : SELL
📉📊 Last Friday, the DXY (US Dollar Index) experienced a sharp decline after the release of the Non-Farm Payrolls (NFP) data. The price had reached the Fibonacci level of 78.6% at 102.722, which led to a significant drop.
💹🔍 Today, on Monday, the DXY seems to be in selling liquidity collection mode. Currently, the price has reached the local Fibonacci level of 61.8%. Traders are anticipating a potential retracement to the Fibonacci level of 50% before a potential upward movement to fill the existing imbalance.
⬆️🔜 After the upward move, there's an expectation that the price might head down again towards the Fibonacci level of 50% at 101.574.
Trade with caution and keep an eye on the key Fibonacci levels for potential reversals. 🚦🧐 Happy trading!
🔰 Time Frame : 4H
🔰 Scale Type : SMALL/ MID Scale
🔰 Direction : SELL
📉📊 Last Friday, the DXY (US Dollar Index) experienced a sharp decline after the release of the Non-Farm Payrolls (NFP) data. The price had reached the Fibonacci level of 78.6% at 102.722, which led to a significant drop.
💹🔍 Today, on Monday, the DXY seems to be in selling liquidity collection mode. Currently, the price has reached the local Fibonacci level of 61.8%. Traders are anticipating a potential retracement to the Fibonacci level of 50% before a potential upward movement to fill the existing imbalance.
⬆️🔜 After the upward move, there's an expectation that the price might head down again towards the Fibonacci level of 50% at 101.574.
Trade with caution and keep an eye on the key Fibonacci levels for potential reversals. 🚦🧐 Happy trading!
Trade active
Note
Look at DXY now, what did we say? Liquidity is the key.Trade closed: target reached
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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.
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.