Weekly Analysis - ( 26 - 30 Dec 2022 ) - "DXY"
We highly discourage FM to be trading nearing the end of 2022 as this is the time of the year whereby we should be celebrating our P's and hardwork put in throughout 2022. Nevertheless, FM will be providing weekly breakdowns on DXY and GOLD as per usual.
As a PA trader, we can see that weakening of the dollar, we have not been able to see a rebound or substantial gain in strength fundamentally nor technically. DXY has only been forming LLs after breaking prev bullish MS now retesting HTF MS. Will be anticipating DXY to continue its bearish momentum to 102.5 KL. PA consistently failed to break 103.8-103.5 zone do signify that DXY requires a catalyst to break the zone.
Do look out closely for 104.7 as there will not be any major shift in fundamentals towards the end of 2022.
As a PA trader, we can see that weakening of the dollar, we have not been able to see a rebound or substantial gain in strength fundamentally nor technically. DXY has only been forming LLs after breaking prev bullish MS now retesting HTF MS. Will be anticipating DXY to continue its bearish momentum to 102.5 KL. PA consistently failed to break 103.8-103.5 zone do signify that DXY requires a catalyst to break the zone.
Do look out closely for 104.7 as there will not be any major shift in fundamentals towards the end of 2022.