Hi there,
DXY entered a demand zone with a range of 100 to 102, and we might see a pullback in the demand zone before moving higher."
The price movement did not form any clear pattern valid for our ABC analysis. The 123 formation is an adaptation of the Wolfe Wave pattern, where point 2 leads to a potential trajectory towards point 3 if there is a higher low. Therefore, if the level of 99.628 is broken, it will invalidate the setup.
105.933-107.379 are the price targets for a bias of 109.637.
Thank you, and I hope you have a wonderful week ahead.
Happy Trading
K.
DXY entered a demand zone with a range of 100 to 102, and we might see a pullback in the demand zone before moving higher."
The price movement did not form any clear pattern valid for our ABC analysis. The 123 formation is an adaptation of the Wolfe Wave pattern, where point 2 leads to a potential trajectory towards point 3 if there is a higher low. Therefore, if the level of 99.628 is broken, it will invalidate the setup.
105.933-107.379 are the price targets for a bias of 109.637.
Thank you, and I hope you have a wonderful week ahead.
Happy Trading
K.
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There needs to be a strong bull candle open above 104.444 for the price to go above 104.944. Currently, there is a potential retracement to the 103.463 area.
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DXY still holding above the demand zone pulling up to the 105.470 close to target. I hope it will continue going up.
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DXY still showing some buying pressure - I will leave it like that to settle.