3110 DXY the end of wave 5 could be 97.2-97.6

DXY has made a red uptrend channel .
Some bear signal appear on 4H chart, is that ok to short now?
I would hold back for a while to see if price would try to rally up one more time once it rehit the red channel.
That is why we have two arrows there.

It looks strong dollar has to take a rest soon. Check NON-DOLLAR CURRENCIES , you can find most of them are now reaching a structure for reversal or correction soon.

So on DXY, we would suggest if price go up again , it would test 97.2-97.6 soon.

Otherwise down to see 96.2 soon.

This idea is marked as long becoz the red channel is still valid to us.
Less is more!

Kommentera:

DXY drop down from a position that is a little higher than we expected.