It's not very apparent as to the next decent move and how it will evolve.
The 4 hour Dollar Index chart (posted) has begun its' move higher.
But the EURUSD could be showing another option.
IF the move from the highs is an abc correction then we could be seeing a 1,2/1,2 since the low of c.
If that is the case then price should not take out the low of first 2. If it does then we could be seeing a larger 1,2. Then the 2 should not take out the low of c.
This could set up a much larger move higher.
Key is watching DXY and EURUSD in tandem.
Hope all above makes sense...!!
The 4 hour Dollar Index chart (posted) has begun its' move higher.
But the EURUSD could be showing another option.
IF the move from the highs is an abc correction then we could be seeing a 1,2/1,2 since the low of c.
If that is the case then price should not take out the low of first 2. If it does then we could be seeing a larger 1,2. Then the 2 should not take out the low of c.
This could set up a much larger move higher.
Key is watching DXY and EURUSD in tandem.
Hope all above makes sense...!!