Dollar Index - End of January Analysis
June 2022 was the last time we witnessed a major bullish run reaching into macro imbalances @ 110.
Donald Trump was elected in November 2024 and ever since, we have witnessed a similar run, in which Dollar punished those who were short based on market trend and sentiment at the time.
Many long term traders saw 106 as ‘safe’ price point to place their buystops but the market had other plans… As the algorithm repriced higher upto 106, it became a self fulfilling prophecy where more buy stops were triggered increasing the likelihood of a low resistance liquidity run.
Highs for the month is 110.176
Lows for the month is 107.969
Bearish bias negated if I see a candle body closure above the monthly highs and CE of 6 month sellside imbalance.
Donald Trump was elected in November 2024 and ever since, we have witnessed a similar run, in which Dollar punished those who were short based on market trend and sentiment at the time.
Many long term traders saw 106 as ‘safe’ price point to place their buystops but the market had other plans… As the algorithm repriced higher upto 106, it became a self fulfilling prophecy where more buy stops were triggered increasing the likelihood of a low resistance liquidity run.
Highs for the month is 110.176
Lows for the month is 107.969
Bearish bias negated if I see a candle body closure above the monthly highs and CE of 6 month sellside imbalance.
Uwaga
Interesting price action today with the daily candle looking to close out as a bullish shooting star, manipulating longs upto the 6-month SIBI before sharply rejecting in the US PM session, filling in the NWOG.
Uwaga
Gun to my head, Monday is the highs for the week.
Monday was the manipulative move to the upside, aiding the traders who believed that the tariffs Trump imposed on Canada, Mexico and China will aid the growth of the US dollar but the complete opposite occurred.
The potential for risk on conditions is growing stronger as Tuesdays daily close confirms the manipulative spike to the buyside pools before closing out as an aggressive down close candle.
Eyeing the bullish breaker block this week for price to reach
Uwaga
*chart updates made*
Looking out for a sell-off to 106.969
So far, so bearish.
Expect strength in FX pairs
Uwaga
Uwaga
End of week of action
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