U.S. Dollar IndexShort
DXY (Dollar) Sells from 101.700
For the DXY, my outlook is that the price will retrace back up to 101.700 before continuing its bearish trend with another drop. Since that point of interest (POI) is still far from the current price, I’ll be looking for a potential buy setup around the 100.800 area, which aligns with a 3-hour demand zone.
If the price respects this zone, it could generate enough momentum for the pullback. We’re already seeing a strong reaction from the 9-hour demand zone I marked last week, supporting this scenario. A further decline in the dollar will serve as a confluence for bullish moves in my other pairs.
Have a great trading week, everyone!
If the price respects this zone, it could generate enough momentum for the pullback. We’re already seeing a strong reaction from the 9-hour demand zone I marked last week, supporting this scenario. A further decline in the dollar will serve as a confluence for bullish moves in my other pairs.
Have a great trading week, everyone!
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