Guys listen now, DXY is sitting on a veeery delicate level and any significant move will heavily determine the direction of every USD involved pair.
So first let me put down the important indicators and levels:
1. On 103.800 lays Daily 50EMA right above the current price
2. On 104.100 lays Weekly 50EMA slightly above the current price
-We can say that they are pretty damn close
3. Price is sitting on current major S/R zone
4. There is also 61.8 % fib level of previous leg
After clearing this you see why the price is in a very tight zone so this week we will most likely see a breakout on either side so get ready because we might see some pretty good moves after that.
So what's my POV: I expect to see a bullish breakout and continuation, because everything suggests that in my opinion. Of course we can see a bounce from the current level and continuation to the downside.
I will make sure to update everything here ;)
So first let me put down the important indicators and levels:
1. On 103.800 lays Daily 50EMA right above the current price
2. On 104.100 lays Weekly 50EMA slightly above the current price
-We can say that they are pretty damn close
3. Price is sitting on current major S/R zone
4. There is also 61.8 % fib level of previous leg
After clearing this you see why the price is in a very tight zone so this week we will most likely see a breakout on either side so get ready because we might see some pretty good moves after that.
So what's my POV: I expect to see a bullish breakout and continuation, because everything suggests that in my opinion. Of course we can see a bounce from the current level and continuation to the downside.
I will make sure to update everything here ;)