We are approaching a nice Weekly DEMAND/BUY zone which starts around 109.2 which is a previous swing high in the current trend that will likely form some sort of support and is a good area to go LONG again I will be looking for my indicator to give me a signal on TFs above the 4hr to daily around these levels.
If this trade happens I expect a run back up to around 1.14 and then a sell off again which will drop down towads the 104 area which is a newly formed Monthly DEMAND/BUY area.
With the fundamentals starting to change a little the past week with rumors that Fed is less hawkish and interest rates may halt I think the High is already in on the DXY near the 115 mark though we never know just yet until we have the Fed meeting next week.
You can also look at my previous analysis on the DXY where I explained the likely path that is happening now enjoy
If this trade happens I expect a run back up to around 1.14 and then a sell off again which will drop down towads the 104 area which is a newly formed Monthly DEMAND/BUY area.
With the fundamentals starting to change a little the past week with rumors that Fed is less hawkish and interest rates may halt I think the High is already in on the DXY near the 115 mark though we never know just yet until we have the Fed meeting next week.
You can also look at my previous analysis on the DXY where I explained the likely path that is happening now enjoy
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