Now that the US elections are behind us, all the intentions of the weekly chart of US DOLLAR / DXY seem as if it's going to move lower!
It is forming bearish order blocks (on Weekly), trapping longs all along the way since March 2020 & also there are a bunch of shorts trapped from April 2018 timeframe that would love an exit. Till price action reaches those zones, DXY is heading lower!
What this means?
USDXXX pairs to move lower
XXXUSD pairs to move higher
Equity to head higher
Another reason DXY could head lower is if more stimulus gets announced for the US economy.
I'll add more evidence from other forex pairs about why I think this move could be verified.
PS : Another way DXY could move is in a consolidation - as below the current price, we have unidirectional price movement from Apr 2018 timeframe - which could counteract lower movement.
It is forming bearish order blocks (on Weekly), trapping longs all along the way since March 2020 & also there are a bunch of shorts trapped from April 2018 timeframe that would love an exit. Till price action reaches those zones, DXY is heading lower!
What this means?
USDXXX pairs to move lower
XXXUSD pairs to move higher
Equity to head higher
Another reason DXY could head lower is if more stimulus gets announced for the US economy.
I'll add more evidence from other forex pairs about why I think this move could be verified.
PS : Another way DXY could move is in a consolidation - as below the current price, we have unidirectional price movement from Apr 2018 timeframe - which could counteract lower movement.
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.