One of my last DXY forecasts established the possibility to arrive at the 97.90 level "Poised to reach the 97.90 level.... black channel" published January 20, ..... Well, It did once the last Friday and also did it again today. But as you can see the market is still traded around those pink lines stating that is time to go back. Let´s see what is toes since...
Follow the arrow, please.
Trade-in within the orange channel for your bucks.
As in my DXY forecast, I can see that EURUSD is almost ready to rebound. Why? Let´s talk about indicators and fundamentals. The Mago Estraperlo is showing that in the 4h is ready to break and in the Daily as well. The same is happening in the 4 H and the Daily timeframe with the Stoch RSI and RSI are totally oversold and the RSI is in the 45 levels in the Daily....
Why? Explained in my Related ideas or just follow the arrow for your bucks.
My last forecast mentioned the possibility to reach the 97.90 level but after studying again the charts I found several facts telling me that probably it won't happen ... but as mentioned in my last forecast for DXY it almost touched the 97.57 level ..... yes 97.58 was. I drew again the lines and my new 4-hour channel is the one you find in between the yellow...
It is a fact. DXY is still in bull mode. We have been trading the black channel in the chart or my 1-hour channel since January 2020. It is very probable it will arrive at least the 4-hour channel or pink channel and probably bear again but this is the market. Follow the arrow. Trade within the orange channel first. Will suggest buying again your bucks again after...
Follow the pink line..... trade within the orange lines first.
Follow the pink line. Remember that the market needs to arrive first at least to the red line.
Follow the purple arrow., please. After the market breaks the blue line should arrive at the red circle. Don´t sell your bucks yet.
As in DXY you need just to wait just for not losing your money. Wait .... just wait. After that, trade within the yellow lines.
Follow the pink line. Should arrive again the red line. Come on. This is the market guys.
Right now the market is in touch with my 1-hour trend line again.... YES. It is time to return baby.
Follow the pink line within the green one.
The market will arrive at the yellow line.
The market will arrive at the yellow line.