DXY - 18Apr2022
On the weekly, DXY is at RSI resistance. On the daily, it is forming negative bearish divergence where price action is indicating higher highs but RSI indicating lower highs.
On the H4, price bounced back after a dovish ECB last Thursday. That price action looks more like the completion of Wave 4 correction. Now we are waiting to see where the last impulsive Wave 5 will end. For now we should be cautious on further upside as H4 RSI is also indicating negative bearish divergence. Price action could end up reversing any moment.
This is for personal work record purposes only, not financial advise or solicitation of trade.
On the weekly, DXY is at RSI resistance. On the daily, it is forming negative bearish divergence where price action is indicating higher highs but RSI indicating lower highs.
On the H4, price bounced back after a dovish ECB last Thursday. That price action looks more like the completion of Wave 4 correction. Now we are waiting to see where the last impulsive Wave 5 will end. For now we should be cautious on further upside as H4 RSI is also indicating negative bearish divergence. Price action could end up reversing any moment.
This is for personal work record purposes only, not financial advise or solicitation of trade.