G'day Guys. Its Friday once again, last day trading of the week.
Today we going to analyse Indices Charts. First chart we going to analyse today is DXY (US Dollar Index)
Fyi, The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading partners.
This index is similar to other trade-weighted indexes, which also use the exchange rates from the same major currencies.
Some examples: DXY Strong = USD Strong and GBPUSD pair will bearish.
As analysed, there was two options might happen on this pair.
Red Arrow: There was high possibility this pair going to retest Major Demand Zone, based on chart movement and human behavior.
Blue Arrow: As we know there some high impact news happen in US today. If the data release good for currency, this pair might break the Minor Supply Zone. And this we will consider become RBS (Resistance Become Support)
Most likely, we going to see some rough price movement by the end of US session today.
Let's see what happen Next.. Cheers.
Today we going to analyse Indices Charts. First chart we going to analyse today is DXY (US Dollar Index)
Fyi, The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading partners.
This index is similar to other trade-weighted indexes, which also use the exchange rates from the same major currencies.
Some examples: DXY Strong = USD Strong and GBPUSD pair will bearish.
As analysed, there was two options might happen on this pair.
Red Arrow: There was high possibility this pair going to retest Major Demand Zone, based on chart movement and human behavior.
Blue Arrow: As we know there some high impact news happen in US today. If the data release good for currency, this pair might break the Minor Supply Zone. And this we will consider become RBS (Resistance Become Support)
Most likely, we going to see some rough price movement by the end of US session today.
Let's see what happen Next.. Cheers.