What is next for DXY?
Updated
Hey traders. Hope everybody is well! A lot of work had been made for the past 2-3 weeks. All of my analysis hit the targets and now are sitting at the major key level of support/resistance 94.50-95.20. I personally think we need more time to give to the market to develop some sort of price action. If we are stepping down to the Daily timeframe - we can notice double bottom formation when the price starts to impulse aggressively to the upside. Also Daily timeframe says us that all the time we move above our MA50. Weekly and daily timeframe also provides us with the ended cycle of Elliot waves theory. So waiting for now. Keep you updated soon
Note
Update - So what do we have here? We gave some time to the market to find his direction. Major key level of the daily timeframe was broken and now looks like we have bullish momentum to the upside. Is it a "trick" to catch people on the wrong side of the market? I would say - MORE LIKELY! Have a look on the weekly timeframe the market really for me looks bearish in the long run! We have some space to explore to the upside, but also we have a lot on confirmations to drop the market!
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