dxy deciding areai want to see how dxy plays out but if the 104.800 level holds we could see a nice move to the upside if not we will see a test of bigger time frame order block which would a nice pull back for a possible move up either way im waiting on price development market is getting ready for some nice size moves
Dxy_short
🔴 DXY - 3D (28.09.2022)🔴 DXY - USD Currency Index
TF: 3D
Side: Short
Pattern: Ascending Broadening Wedge
SL: $118 - $120
TP 1: $109.831
TP 2: $106.926
TP 3: $104.578
The ascending broadening wedge is a chart pattern that tends to disappear in a bear market.
Most often, you'll find them in a bull market with a downward breakout.
Monthly RSI is at 94 indicating oversold.
DXY MOVE NEXT WEEK The dollar is still resisting the rise and it has signs of weakness, and I expect the next movement to be downward, especially with the somewhat lower inflation and the comments of the Monetary Policy Committee from the Federal Reserve members to reduce interest rates on the US dollar during the coming months.
We wait and see what next week has in store for us.
What do you think of the strength of the dollar currently? Is it subject to more collapses, or will it have a word next week that contradicts all expectations?
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dxy #1dxy is at a nice turning point after a nice bearish push to end the week dxy tries to climb back up on market open
upside right now is a bit limited unless i see a break above 107.500
failing to break the daily pivot at the moment and also opening below a weekly pivot im currently looking for another bearish push down for dxy which should pump gold a bit
dxy next move2 scenarios can happen the dollar is bullish right now since it just recently broke a high now i would like a pull back but tbh it could just keep pushing up to the high b4 coming back down but once price gets to that high i will see how price action develops
this is just more confirmation on golds sells we are already in for the pull back
110.360-110-800 area where i see it pushing to
dxy #1this is a turning point for dxy it did create a lower high last week close also opened with a gap
also has a lot of trend line liquidity resting below and the external trend is still down
now on the flip side there is equal highs and also dxy could push up to the 112 area which would be a nice discounted move
dxyso on the smaller time frame dxy created a double bottom im looking for a retest of a 5min ob and also if you look closely theres a fair value gap in that same area if that area holds we can see a bullish ny session for dxy most likely im still bearish dxy this is just a pull back for the next real move
dxy up or downa niceeeeee down move giving you direction on all the other dxy pairs but this dollar weakness could be coming to a pause as it approaches this key level
now with that being said it could just break down at this level and go fill that fair value gap and cause a nice up move for gold
we have to see how price develops here but it is a point of intrest everyone should be watching
dxy is not done!!!theres equal highs here so i beleive we see a test to that orderblock which is right by a key pivot level dxy still has a bit more upside when it gets to that level ill see what it does but if bears come in we could finally see dxy make a nice move down but until then its not done yet !!!!
DXY aka USdollar aka dollar indextheres liquidity on both sides equal highs and lows price been here before and failed to break the low creating that equal low so i believe it will sweep orders up top before fully heading down unless it breaks those lows soon and it will keep pushing down
look at previous equal highs and lows and see how it swept out liquidity b4 the actual moves
dxy where is the dollar going!so where here at a very crucial area where we have to pay attention market a bit choppy from news a few hrs ago
now overall trend is up on the daily but dxy has been so bullish last few weeks so this pull back was much needed if these lows hold "110.400" we can see up move now if that low breaks down we can see dxy test 109 soon so all eyes on deck