DXY short term down trend
Look for DXY to retest the bottom 2016 trendline (fork) over the next month or so. Good opportunity to long opposite pairs in the interim.
Nota
Another weekly bear signal candle.
"Big news" on US$ this week. Coincidence, or is the chart already telling you what's likely to happen.
Nota
The bear finally woke up. Always, always check your weekly candles EOW. 9/10 will tell you market sentiment for the next weeks. We're at weekly demand so it's likely we may see a retrace early next week. I expect price to be ugly in the near future, while buyers and sellers settle on a final price, so play the range until the market's decided on a direction...
Good weekend.
Nota
Buyers looking for a good deal. What a novel concept. My stoch is telling me otherwise...Nota
I wanted to post this, as I think it's a very good example of what happens when you have stacked supply and demand zones, and you dont know where price will find support. Always take the most extreme zone. It's already turned away price before, so there's a good chance it will do so again.We likely wont know until Tue. or so whether this is a valid demand zone. We dont know where price will ever up, but we have to take the high probability trades, so that the law of averages works out in our favor over the long haul.
DXY and Swissy are probably the best pairs to watch, just to learn how price likes to move, imo.
Nota
Trendline retest. Now a weekly close inside last week's candle is likely bad news for dollar bears who came out early (or late...). Wait until EOW for confirmation. Tue. is just the start of the weekly direction. Nota
Also, there's no trend at the moment. Bulls and bears are fighting over an important pivot zone. Why I expected price to range for the short term. Don't get too emotionally invested in a position atm, imo.Nota
Potential dollar move into next weekNota
Consider this idea over, putting this idea to bed.
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