Which scenario now for DXY ? (weekly timeframe) - educational
Which scenario is going to unfold, at this point, on the dollar index on the weekly and daily timeframes?
That is the question everyone's asking. There are two scenarios still possible, because the direction has not been either taken not confirmed as yet.
This is scenario 1: we will now go for a reversal of the dollar (dollar strength) to complete a regular flat, before resuming the downside.
Is this the most likely scenario?
At the moment it seems it is, because on the daily timeframe you can see that the movement that occurred between December 23 and April 24 has the biggest correction inside, which would make said movement the B wave of the internal flat (marked in light blue).
At this point, we are therefore starting to look for buy opportunities on the dollar index, so sell setups on eurusd for instance.
That is the question everyone's asking. There are two scenarios still possible, because the direction has not been either taken not confirmed as yet.
This is scenario 1: we will now go for a reversal of the dollar (dollar strength) to complete a regular flat, before resuming the downside.
Is this the most likely scenario?
At the moment it seems it is, because on the daily timeframe you can see that the movement that occurred between December 23 and April 24 has the biggest correction inside, which would make said movement the B wave of the internal flat (marked in light blue).
At this point, we are therefore starting to look for buy opportunities on the dollar index, so sell setups on eurusd for instance.
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