DXY daily outlook

6 thg 8

Price is a downtrend which just returned/tested the HTF swing low at 102.230 which is responsible for the current HTF swing high at 106.528. We can see that this drop in price is extremely impulsive or a freefall in price towards our mentioned swing area (102.230). Our focus is set at the recently broken swing low at 103.658, this is a retail technical level where retail traders are looking for a break and retest to the downside targeting the recent low at 102.230. These sells are valid as long as price is trading below the RECENTLY FORMED SWING HIGH at 104.797. This is our supply zone which is responsible for the drop we see in price and we expect price to return to this level within 30 days and drop to form a new HTF swing well below the yearly low at 101.423.