My technical analysis on DXY
At the moment I am expecting uptrend moves on EURUSD and GBPUSD, I want these pairs to make corrections of an impulsive downtrend move they have been having lately. DXY (our benchmark because these pairs are /USD) is currently in a supply zone on the Daily timeframe. The market is reacting from this zone and seems to have created a downtrending liquidity line and is respecting the change of direction on the 30M timeframe. If the market climbs above this liquidity and subsequently shows us a downtrend shift, I believe we will see strong buying strength on EURUSD and GBPUSD in the week of 11/18/2024 - 11/22/2024.
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