Dollar: Full Top Down Analysis Update with EU, GU, AU and Silver

Traders, DXY has reached one the of the targets that we had in our long term plan. We have been following the higher time frame structure which clearly pointed that the dollar index was bullish from 89.2 level. Since then our bias has been bullish irrespective of fundamentals and news. We also noticed that on the weekly timeframe, there was a W Pattern (FCP Pattern) which could push the price up. Then later we also got a double bottom at 90 level confirming a bullish scenario. Last week we were looking for parabolic move in the USDOLLAR and that's what this market gave us. It reach of the targets at 38.2 fibnonacci of the weekly M pattern.

It can still go higher but because it has reached 38.2, there can be a little correction to the downside. So we will monitor this correction. This correction can turn into substantial move because there are open gaps available and historically this market has never left any gaps open. If the correction does not pick up any momentum then this market can go to 95/96 area too.

On weekly time frame, EURUSD has broken through and important levels of support and has created a head and shoulders pattern. But it may try to go back up to retest some of the previous levels.
AUDUSD is looking bullish
GBPUSD is also bullish but does not have clear structure.
Silver broke through the support level but failed to confirm it. The candle stick pattern is a bearish one so this market is something to watch out for. There is a gap at 15 which needs to be filled.

Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too

✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don't hesitate to share your ideas, comments, opinions and questions.

Take care and trade well
-Vik

____________________________________________________
📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
____________________________________________________