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Dxysell

DXY Weekly Market OverviewDxy chart looking at the daily it is a pretty tricky one here because last week we had a break to the downside and we have a break to the up side and a very very wide move, so this move to the downside and what happened was we're gonna see if this is a correction and continuation or if this was the impulse, And as we can see on the daily timeframe, Dxy did close back up above this important resistance and the support area so on the daily and the weekly we have a close above that.So it is possible that the dollar keep pushing higher for another test to the upside, and yes is it possible that we may see this as a possible correction and we move lower ,if we see a break of the trendline, so as for now we're seeing higher highs and higher lows on the four-hour time frame, and week we may see a continuation ,as long as we are above this trendline holding as support as it did last two times then we may see a continuation. for a bearish move we want to see a strong break below trend line to really see that the correction is over and that the market fails to make a new high then we may see continuation. otherwise it is still a possible continuation to the upside as far as we are above the trend line ***Comment your thoughts down below!
TVC:DXY
by ForexCracked
US Dollar Index - Market ShiftMarket Shift has occurred on the DXY during the last quarter of 2018 with equal lows at 93.20 being run to take out short stops. A retracement higher throughout 2019 saw price struggle to move higher to the 100.00 round figure number.this being 61.8% retracement of the previous swing. We had a entry confirmation on the SAR and ADX confirming to go short with a pivot a 96.00 level. My first Target is below the 88.50 level as this is location where a large number of short stops are placed (Liquidity pool). Any traders long from the 80.0 level would have move their stops below this swing low at 88.50. Price will want to sweep through this area to take out long positions. My second target is into the 79% fib as this aligns with an order block and test the top of the previous range at the 84.00 level. What does this mean for all USD pairs?. We should sell off over the next 6 months to a year, for all Forex pairs that have a quote currency as USD.
TVC:DXYShort
by TRADER-RI