DXY - 31Jan2022
On the weekly, price broke above previous highs after last week FOMC announcement. We will have to wait and see whether this week price can close higher. On the daily, price did not close higher above Thursday breakout. We should be slightly cautious as it could be a fake breakout.
On the H4, price bounced to Fib resistance. With Stochastic currently at horizontal overlap resistance, we could potentially expect the price to pull back to 1st Support at 96.755.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the weekly, price broke above previous highs after last week FOMC announcement. We will have to wait and see whether this week price can close higher. On the daily, price did not close higher above Thursday breakout. We should be slightly cautious as it could be a fake breakout.
On the H4, price bounced to Fib resistance. With Stochastic currently at horizontal overlap resistance, we could potentially expect the price to pull back to 1st Support at 96.755.
This is for personal record purposes only, not financial advise or solicitation of trade.