$DXY -Middle Range Warzone (105vs100)
Updated
- 
DXY seems to be wanting a break-out from Resistance Trendline
coming from 114 Highs, despite failing to do so.
A Resistance Trendline that has pushed the price lower each time price has approached it.
Wether that break-out and resumption is bound to happen or not in the short term,
it is yet to be seen.
Currently,DXY is in the midst of a Middle Range War-Zone, struggling for direction.
For now, Price-Action suggest a Lower High being printed
at 104.5 , a Lower High from 114 Downtrend.
By Breaking Structure(BoS) of the most recent Lower High (LH) 104.5
would validate the Trendline break-out and suggest
furthermore uptrend continuation forDXY ,
headed for the the Range's Ceiling at 105.8 and testing the broken
macro structure Support Trendline
Move towards 105.8 range's ceiling would be quite bearish for overall Financial Market's
condition.
While a move to the range's bottom at 100 level would be quite promising for other Market Sectors
to continue performing well.
Very interesting week ahead for The Markets, especiallyDXY,
which dictates Financial Markets Swings
*** TRADE SAFE
NOTE that this is not Financial Advice .
Please do your own Research before partaking on any Trading Activities
based solely on this Idea.
DXY seems to be wanting a break-out from Resistance Trendlinecoming from 114 Highs, despite failing to do so.
A Resistance Trendline that has pushed the price lower each time price has approached it.
Wether that break-out and resumption is bound to happen or not in the short term,
it is yet to be seen.
Currently,
DXY is in the midst of a Middle Range War-Zone, struggling for direction.For now, Price-Action suggest a Lower High being printed
at 104.5 , a Lower High from 114 Downtrend.
By Breaking Structure(BoS) of the most recent Lower High (LH) 104.5
would validate the Trendline break-out and suggest
furthermore uptrend continuation for
DXY ,headed for the the Range's Ceiling at 105.8 and testing the broken
macro structure Support Trendline
Move towards 105.8 range's ceiling would be quite bearish for overall Financial Market's
condition.
While a move to the range's bottom at 100 level would be quite promising for other Market Sectors
to continue performing well.
Very interesting week ahead for The Markets, especially
DXY,which dictates Financial Markets Swings
*** TRADE SAFE
NOTE that this is not Financial Advice .
Please do your own Research before partaking on any Trading Activities
based solely on this Idea.
Note
Candlestick version
(Clearer view of Candlestick prints as a rejection from Resistance Trendline)
Note
DXY violating Range's Bottom at 100.820 on the day of CPI # numbers readingsLower than expectetions at 3.1% for June
Note
Note
*D update (bars pattern)97 highly likely as a downside target to catch a decent bounce and hopefully for The Dollar Index to find decent support there
Note
Last Daily *D close Price Action: Indecisive Candlestick
Holding 20EMA as support and facing 50EMA as resistance.
Turn around South from here on next week opening ?
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