Everyone,
happy Memorial Day, we see the price for DXY made multiple wick rejections for the last few years; it has now came back to retest that area for a 3rd time . The price action for the last month shows a great rejection of the past resistance indicating a probable downside move in the near future especially with fundamentals circling around government and regulation of the crypto markets.
The bias that I'm leaning to is a consolidation market that can be off a 1 or 2 things. The first is its a rejection of this resistance of 100-105 resistance area then a climb down to .88 to .92 and reject it will be a very profitable range trading scenario.
We can see the second scenario play out by it rejects this area and a huge downtrend to commence to last known support of .88 area and possible more just food for thought. Adios
happy Memorial Day, we see the price for DXY made multiple wick rejections for the last few years; it has now came back to retest that area for a 3rd time . The price action for the last month shows a great rejection of the past resistance indicating a probable downside move in the near future especially with fundamentals circling around government and regulation of the crypto markets.
The bias that I'm leaning to is a consolidation market that can be off a 1 or 2 things. The first is its a rejection of this resistance of 100-105 resistance area then a climb down to .88 to .92 and reject it will be a very profitable range trading scenario.
We can see the second scenario play out by it rejects this area and a huge downtrend to commence to last known support of .88 area and possible more just food for thought. Adios