DXY Video Analysis - Where is the DXY headed? Watch to find out!
The dollar index has had a very bearish week, but that is not to say that the bearishness is going to continue, as we are approaching daily, weekly and monthly demand zones on the DXY chart.
From the video you will see that we are not quite there at the monthly demand zone, so we could get some more weakness until we reach it, at which point we could get back the DXY's strength. Nested within the monthly are some good weekly and daily demand zones that will further increase our odds.
We could either take the weekly demand zone that price is at right now, or wait for price to go lower to our monthly demand zone and take the daily demand zone inside of it. That would be an ideal area for going long the DXY.
On the other hand, we have a weekly supply zone further up, and next to it are two good daily supply zones. If we were to short DXY, we would wait for price to get to those supply zones, and if that is going to happen, then that would mean the DXY has gained strength.
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From the video you will see that we are not quite there at the monthly demand zone, so we could get some more weakness until we reach it, at which point we could get back the DXY's strength. Nested within the monthly are some good weekly and daily demand zones that will further increase our odds.
We could either take the weekly demand zone that price is at right now, or wait for price to go lower to our monthly demand zone and take the daily demand zone inside of it. That would be an ideal area for going long the DXY.
On the other hand, we have a weekly supply zone further up, and next to it are two good daily supply zones. If we were to short DXY, we would wait for price to get to those supply zones, and if that is going to happen, then that would mean the DXY has gained strength.
If you found this useful, make sure to press like or share a comment. Appreciate it.
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DXY strengthening
