DXY Analysis (Long/Buy Opportunity)
- After the previous bullish momentum price eventually met monthly resistance.
-Price then began making Lower Highs and Lower Lows, before the huge sell off.
-Price then found support at the weekly support/demand zone and formed a double bottom (bullish reversal pattern)
-I expect price to either met resistance at the neckline or perform a break and retest.
- A break and retest of the neckline will allow price to form a lower high.
- I am expecting price to ultimately make a bullish move to test the 50.0 Fib level, which also aligns with the weekly resistance/supply zone and the previous lower low.
-Price then began making Lower Highs and Lower Lows, before the huge sell off.
-Price then found support at the weekly support/demand zone and formed a double bottom (bullish reversal pattern)
-I expect price to either met resistance at the neckline or perform a break and retest.
- A break and retest of the neckline will allow price to form a lower high.
- I am expecting price to ultimately make a bullish move to test the 50.0 Fib level, which also aligns with the weekly resistance/supply zone and the previous lower low.