DXY - 07Feb2022DXY - 07Feb2022
On the weekly, DXY dropped to 20EMA, 200MA and ascending trendline support after ECB and BoE tone unexpectedly turned hawkish. DXY is expected to have support and have a short-term bounce.
On the H4 & H1, price bounced from support at 95.135 level and seems to be playing out h&s with the target to around 94.44. As the Stochastic is still at support, we could expect price to have a short-term bounce, possibly to 1st Resistance + Neckline at 95.950 before dropping much lower.
This is for personal record purposes only, not financial advise or solicitation of trade.
