DXY retracement to be extinguished for a bullish run
In our previous learson we discussed the fundamental factors that may Lee DXY(dollar index) bullish near/Long term, but as we am know that price is not linear so price is expected to go for retracements or even shot term reversals while keeping its bullish strength intact.
Technicals
DXy is currently retracing after hitting multi months high @ 107.347 with the retracement continuing into the early hours of Thursday price is is most likely to retrace lower before a bullish run will resume.
Price is currently around 106.724 rigion and it I expected to make a slight upward move to pick a D-OB(daily negative orderblock)sitting around 106.908 as shown in the image above before running lower towards 106.434 and 106.245
Between 106.434 and 106.245 is a critical reference point needed to drive price higher and continuously above this week's high.
Critical reversals is not expected for now until price run into 108.00 level far away above
Swingers can aim a long position when price comes to 106.434 or 106.245 area then target 108.00 level as profit taking area.
Follow me for more technical and fundamental analysis.
Technicals
DXy is currently retracing after hitting multi months high @ 107.347 with the retracement continuing into the early hours of Thursday price is is most likely to retrace lower before a bullish run will resume.
Price is currently around 106.724 rigion and it I expected to make a slight upward move to pick a D-OB(daily negative orderblock)sitting around 106.908 as shown in the image above before running lower towards 106.434 and 106.245
Between 106.434 and 106.245 is a critical reference point needed to drive price higher and continuously above this week's high.
Critical reversals is not expected for now until price run into 108.00 level far away above
Swingers can aim a long position when price comes to 106.434 or 106.245 area then target 108.00 level as profit taking area.
Follow me for more technical and fundamental analysis.
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