USD are strong right now, check out my DxY Analysis right here before Trading USD/XXX or XXX/USD Pairs ( link below )
This is an update of my previous USD/JPY Analysis ( link below )
Dollar has'nt show its strenght yet because of last week Inflation Reports, now DxY still in a Ranging Market but the Bullish sentiment is still intact.
Last friday Inflation Report make a big impact on USD/JPY pairs, the price going down and found it Support at Daily Support Line, recovering right after. And now we can see that the Bears are coming back to breach this weak Support Line forming a nice Bearish Trendline, accumulating seller.
Our most likely scenario, the price will break the Support Line and reverse at the Daily Trendline, continuing the Ascending tTiangle Pattern that have been formed, and finally break our Strong Resistance with a big bullish trend bar.
Or, the price will break our new formed Bearish Trendline to break the next Strong Resistance.
take your trade cautiously,
Stay Safe, Stay Green Brother,
This is an update of my previous USD/JPY Analysis ( link below )
Dollar has'nt show its strenght yet because of last week Inflation Reports, now DxY still in a Ranging Market but the Bullish sentiment is still intact.
Last friday Inflation Report make a big impact on USD/JPY pairs, the price going down and found it Support at Daily Support Line, recovering right after. And now we can see that the Bears are coming back to breach this weak Support Line forming a nice Bearish Trendline, accumulating seller.
Our most likely scenario, the price will break the Support Line and reverse at the Daily Trendline, continuing the Ascending tTiangle Pattern that have been formed, and finally break our Strong Resistance with a big bullish trend bar.
Or, the price will break our new formed Bearish Trendline to break the next Strong Resistance.
take your trade cautiously,
Stay Safe, Stay Green Brother,
