DXY Bearish Drop Last week, Bullish Rally This Week...?
U.S. Dollar Currency Index TVC:DXY
TreyHighPwr
DXY
"Excellence is not a singular act but a habit. You are what you do repeatedly." -Shaquille O'Neal
Yoo Family I hope all is well!! Paying close attention to the US Dollar is very important when it comes to my trading especially since I trade GOLD...Hopefully this breakdown can help you as well...
I constructed this narrative simply off the Weekly, Daily & 4Hr PA...IMO I believe the US Dollar will be bullish this week here's why, rock w/ me...
1) Last week buyers pushed the Dollar all the way back up towards the Daily Last Swing HIGH level ($ 106.515) and were met with instant resistance from aggressive sellers and lost the battle of dominance and sellers developed the stronger hand & dropped the Dollar Underneath Daily Swing EQ level ($105.200) and into Discounted Demand Levels...
2) The market had extreme imbalance to the upside and sellers pushed price into a HTF Daily Pivot Demand Zone to rebalance the market for fair value... Remember both Sellers and Buyers both have to have equal fair play in the market...
3) Now that Price has mitigated the HTF Daily Pivot Demand Zone which is considered Discounted pricing I believe the job is complete for sellers and now buyers maybe ready to enter the market and drive the dollar back up... This is just my opinion nothing is set in stone when it comes to the market as we do play the long-term game of probability...
4) On the Daily TF we have a huge rejection candle out of that pivot demand zone I mentioned... Now lets see if buyers come back into the market...
Lets see if Buyers can push the US DOLLAR back up this week!! Stay active in your charting...
#BHM500K #NewERA #Champions
