So I was thinking DXY was going to change in sentiment since 2/14 but I believe this pattern with the bullish candle on multiple timeframes confirm continuation of bullish trend.
Change in market sentiment began Feb. 15th; Breakout occurred Feb 20th; FOMC Minutes gave no clear indication on rate cut timing and remains hawkish, however, investors interpret information as a bit dovish and still insist on cuts, so the downtrend continues until buyers take their last stand at the best opportunity. Safe trading!
I am really expecting the U.S. Bond Yields to reverse by March.
My weekly plan that pivots on Tuesday Feb 13th U.S. CPI data. Dollar will cool off and make corrections to structure, consolidate and when data drops in favor of DXY it will surge to 106 according to Nov. 23' highs sending this pair down to 1.07.
I am thinking DXY will cool off to 103.500's by Tuesday morning and when the CPI data drops at 0830 EST the market will continue its 3 month trend or break for a new bearish trend. Most likely the 3 month trend will hold for another 2-3 months until FOMC gives the green light for cuts. I am still very new at this so don't take my word for it, I'm just having fun with it.
Based on previous patterns and wide divergence BTC will go back to $33,000-$38,000 before surging back to $40,000's and then $50,000's in Approx. 3 months from now when halving occurs.
Goes with my EU long idea,. Dependent on CPI (Jan.11th) to support this theory.
I'm thinking CPI (Jan. 11th) is bearish and EU recovers to the upside. This is my first published idea and complete chart analysis for a long position I will be taking for the next week. I have been trading for a short time and I taught myself completely everything I know. I hope this inspires someone or leaves an impression. This is not advice! Just my...