The current Market sentiment suggests that we have arrived at a very critical Market level on DXY (Dollar Index) which is a 3 Month Order block level hence signalling the short term decline in price. However the Order Block on Weekly time frame lower also caused a short term rally.
At the moment, because the DXY is not having a Clear Directional Bias, at the most fundamental level, the best thing to do is to wait for the next few days in order to determine accurately which Draw on Liquidity Price will be reaching for, hence price and market must be allowed to leave the current price level before engaging or just risk losing money trying to predict where price will go next.
Fundamentally, according to the effects of what we have been seeing in news in recent time, it seems USA may be preparing to face another sequel of Recession in recent years and if that holds, then we will most likely see weakness in Dollar in the coming weeks to months which will reflect as Bullish run on all DOLLAR related pairs like EURUSD
At the moment, because the DXY is not having a Clear Directional Bias, at the most fundamental level, the best thing to do is to wait for the next few days in order to determine accurately which Draw on Liquidity Price will be reaching for, hence price and market must be allowed to leave the current price level before engaging or just risk losing money trying to predict where price will go next.
Fundamentally, according to the effects of what we have been seeing in news in recent time, it seems USA may be preparing to face another sequel of Recession in recent years and if that holds, then we will most likely see weakness in Dollar in the coming weeks to months which will reflect as Bullish run on all DOLLAR related pairs like EURUSD