DXY DAILY RISING WEDGE PATTERNDxy rising wedge pattern is squeezing smaller each day. We are expecting it to break out to the downside withing a few days to short the dollar. This is a great time to look at PA on some major pairs.
Bearishdollar
Looking for sells on DollarHey traders, here is the analysis for the DXY. If you guys like my analysis please hit like👍 and follow. Thanks. DISCLAIMER:- This is not financial advice.
Dollars First Reversal Since 2021Almost exactly one year ago, the dollar reversed to begin its bullish run we've witnessed this full year. Today, price has reversed to the downside, passing the lows of $107.69.
This could be the turn of a bearish dollar going into 2023. The major currency pair's bias may now have to change with this news and the US30 market may turn bullish if it reverses to the upside due to the dollar's reversal. More to explore on US30 soon.
Thanks for reading❤️🔖📖
GBPUSDCounting on a bearish dollar overall, let's see if this swing setup happens. Just posting here to see how it developed in the future.
EURUSD long- Structure not broken
- Re-test OB yesterday
- Above 1.20200
- Entry 0.79 fib
- DXY bearish
- Creating liquidity pool before aiming higher targets to fill imbalance completely, removing liquidity from today above TP
That's my view. If I'm wrong, good, I will journal, learn a lesson and keep moving.
If I'm right, good, I will bank profits, journal and keep moving.
Trading is supposed to be boring and if you follow your rules to the T there will be no emotions involved.
I only leave this trade after taking partials at the right time and protect BE leaving a runner to tp hit or sl BE hit.
Risk management in place.
Is the Franc Bullish?The franc will weaken significantly.
Why?
Because most people think it will gain strength.
Gold Long - Gold Surged on Dovish FOMCThe gold rebounded and surged by 150 pips amid a dovish FOMC.
Not just the dampening of a rate hike but also an increased sentiment that the next move could very well be a rate cut.
The mid-term outlook of the dollar has confirmed to be bearish and gold is most definitely to keep climbing as the dollar weakens further.
For now, we also to exercise patience to wait for the price to retrace for a better entry level which will be near the demand zone below at 1312.
That said, the gold is also very likely to just keep breaking new high but chasing after the trend is never a good strategy and risk may become mismanaged easily.
