DXY - 21 March 2024
Updated
Be aware!!!!!
Look at daily candlesticks formation, it seems like reversal pattern is forming, yesterday (Wed) FOMC push price lower and close at almost the lowest price of the day, and today (Thu) price open low with a significant gap.
This seems like a scary pattern that DXY is about to reverse and go bearish. HOWEVER, price has never violates the significant low (the bottom being supported from the bullish gap from the left) until now, to me I'm still holding bullish bias.
This quick and sharp drop could be a trap to mislead traders to turn into short bias.
If demand starts to take back control, slowly and gradually putting in small HH & HL, I will be looking for Long.
Look at daily candlesticks formation, it seems like reversal pattern is forming, yesterday (Wed) FOMC push price lower and close at almost the lowest price of the day, and today (Thu) price open low with a significant gap.
This seems like a scary pattern that DXY is about to reverse and go bearish. HOWEVER, price has never violates the significant low (the bottom being supported from the bullish gap from the left) until now, to me I'm still holding bullish bias.
This quick and sharp drop could be a trap to mislead traders to turn into short bias.
If demand starts to take back control, slowly and gradually putting in small HH & HL, I will be looking for Long.
Note
Note
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