Here's what I'm watching on the Dollar Index right now 👇
A couple weeks ago we got a clean liquidity sweep on the daily, and right after that we saw a strong reaction to the downside that left a nice unfilled gap behind. Textbook stuff.
Now my plan is simple, I'm expecting price to push back up and fill that gap first (around the 99.2-99.5 zone)
Target: lower boundary of the range around 96.3 🎯
And since, DXY going down usually means good things for EUR, GBP, Gold and risk assets in general. Here's what I'd be watching:
EUR/USD — prime candidate for longs, inverse correlation with DXY is textbook
GBP/USD — same story, usually moves hand in hand with EUR
Gold (XAU/USD) — weaker dollar = stronger gold, classic play
What's your bias on the Dollar? Drop 📉 or 📈 below 🔥
A couple weeks ago we got a clean liquidity sweep on the daily, and right after that we saw a strong reaction to the downside that left a nice unfilled gap behind. Textbook stuff.
Now my plan is simple, I'm expecting price to push back up and fill that gap first (around the 99.2-99.5 zone)
Target: lower boundary of the range around 96.3 🎯
And since, DXY going down usually means good things for EUR, GBP, Gold and risk assets in general. Here's what I'd be watching:
EUR/USD — prime candidate for longs, inverse correlation with DXY is textbook
GBP/USD — same story, usually moves hand in hand with EUR
Gold (XAU/USD) — weaker dollar = stronger gold, classic play
What's your bias on the Dollar? Drop 📉 or 📈 below 🔥
📚 Education | Trade ideas | Market Researches in our FREE TG Channel:
👉t.me/BMNTrading
👉t.me/BMNTrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📚 Education | Trade ideas | Market Researches in our FREE TG Channel:
👉t.me/BMNTrading
👉t.me/BMNTrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.