EURUSD & US dollar Index (H4)
On the top chart, price has cleared through support that has been holding for some weeks now for the US dollar. Current trend is making lower lows & highs as well. I am looking for the DXY to form a lower high & retest broken support as new resistance, where I will be looking for price to resume the downtrend for a new potential lower low.
Vise versa with EURUSD, price last week cleared above the resistance structure of the downtrend that has been holding for some weeks now, forming a higher high & breaching the descending trendline. I will be looking for EURUSD to retest previous resistance as new support, forming a higher low. After proper confirmation at the zone of interest, I will be going to the lower timeframe (2 hour timeframe), to look for signs of a reversal that EURUSD will resume the current uptrend for a new potential higher high.
Thank you to all my supporters & lets have another great week ahead! :)
Vise versa with EURUSD, price last week cleared above the resistance structure of the downtrend that has been holding for some weeks now, forming a higher high & breaching the descending trendline. I will be looking for EURUSD to retest previous resistance as new support, forming a higher low. After proper confirmation at the zone of interest, I will be going to the lower timeframe (2 hour timeframe), to look for signs of a reversal that EURUSD will resume the current uptrend for a new potential higher high.
Thank you to all my supporters & lets have another great week ahead! :)
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