Here I have the DXY on the 4Hr Chart!
For the past 2 weeks, Price on DXY has been steadily falling!
With our Highs and Lows marked, we can see that Price is outlining what looks to be a Descending Channel!
If price continues to follow down this channel, I suspect that the ( 105.53 - 105.025 ) Support Zone will be the area price will Most Likely find support to push higher!!
What I want to see is Price test the Falling Support of the Descending Channel for a Third Time with a successful bounce ultimately turning this Descending Channel into a Bull Flag Pattern!
-For added confirmation, once the next low is formed, I'd like to see:
1) The low be Equal too OR LOWER than the Second test of the Falling Support
2) A Bullish Divergence to appear on the RSI so underlying direction
Fundamentally to finish the week:
Advanced GDP, Unemployment Claims, Pending Home Sales (Thur)
Core PCE, UoM Consumer Sentiment (Fri)
-Another big fundamental factor to DXY strength will be the results from JPY Policy Rate decision and Core CPI released Thur!
For the past 2 weeks, Price on DXY has been steadily falling!
With our Highs and Lows marked, we can see that Price is outlining what looks to be a Descending Channel!
If price continues to follow down this channel, I suspect that the ( 105.53 - 105.025 ) Support Zone will be the area price will Most Likely find support to push higher!!
What I want to see is Price test the Falling Support of the Descending Channel for a Third Time with a successful bounce ultimately turning this Descending Channel into a Bull Flag Pattern!
-For added confirmation, once the next low is formed, I'd like to see:
1) The low be Equal too OR LOWER than the Second test of the Falling Support
2) A Bullish Divergence to appear on the RSI so underlying direction
Fundamentally to finish the week:
Advanced GDP, Unemployment Claims, Pending Home Sales (Thur)
Core PCE, UoM Consumer Sentiment (Fri)
-Another big fundamental factor to DXY strength will be the results from JPY Policy Rate decision and Core CPI released Thur!
노트
Mixed results from this mornings GDP and Unemployment see the DXY drop to SUPPORT and gain Bullish Momentum!! -RSI showing DIVERGENCE like we planned!!
노트
Fridays PCE results came in HOTTER than expected giving DXY quite the boost!!-On the chart you can see price has worked right back up to the Falling Resistance of the Descending Channel with ease! Ending the week quite Bullish!
Next week fundamentally is a big one for DXY being the beginning of the month:
ADP Non-Farm, Manufacturing PMI, JOLTS, Funds Rate (Wed)
Unemployment Claims (Thur)
Average Hourly Earnings, Non-Farm, Unemployment Rate, Services PMI (Fri)
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.