DXY about to fly???
2 weeks ago i wrote about DXY potentially fooling us. However it is yet to prove me right. I am still convinced it will rise however it seems my timing was wrong.
After analysing DXY today, I can see that price breached the 104.000 level that price was respecting. Which tells me it was engineering liquidity which has now been taken. We have also broken above a down trend and on a lower timeframe grabbed more liquidity resting under relatively equal lows. These are all signs that tell me DXY is getting ready for a big push to the upside. This also coincides with the fact the DXY is bullish on daily chart since the start of the year.
Once I see an energetic break up, I will then look for sells on GBPUSD and EURUSD.
After analysing DXY today, I can see that price breached the 104.000 level that price was respecting. Which tells me it was engineering liquidity which has now been taken. We have also broken above a down trend and on a lower timeframe grabbed more liquidity resting under relatively equal lows. These are all signs that tell me DXY is getting ready for a big push to the upside. This also coincides with the fact the DXY is bullish on daily chart since the start of the year.
Once I see an energetic break up, I will then look for sells on GBPUSD and EURUSD.
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