With a new higher high formed on the Dollar, which mitigated a monthly Order Block and weekly Fair Value Gap, is now the time to be asking whether the top is in and a major reversal is pending?
Personally, I say yes, but price action still needs to confirm this as we can always continue trading higher. On the daily we have minor and major swing points from which IRL can be mitigated before a continuation higher and for the time being I'll be monitoring the various points as per the analysis for signs of a continuation higher or
The subjectivity in my analysis stems from the fact that pairs are no longer trading in unison across the board with EU still tumbling lower with the Dollar while AU has begun shifting higher. UJ is not clear as it's exhibiting signs if going both higher and lower so monitoring further development will be key.
My bias for the WEEK is as follows:
DXY - LONG
EURUSD - SHORT
AUDUSD - LONG
GBPJPY - SHORT
USDJPY - LONG
Personally, I say yes, but price action still needs to confirm this as we can always continue trading higher. On the daily we have minor and major swing points from which IRL can be mitigated before a continuation higher and for the time being I'll be monitoring the various points as per the analysis for signs of a continuation higher or
The subjectivity in my analysis stems from the fact that pairs are no longer trading in unison across the board with EU still tumbling lower with the Dollar while AU has begun shifting higher. UJ is not clear as it's exhibiting signs if going both higher and lower so monitoring further development will be key.
My bias for the WEEK is as follows:
DXY - LONG
EURUSD - SHORT
AUDUSD - LONG
GBPJPY - SHORT
USDJPY - LONG
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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.