looking at the DXY there could be some further downside
and there are several areas that could be good locations to go long-the-dollar again.
first area is around 99.31 at the neckline resistance, followed by 2 confluence areas - the first around 97.84 area, the second around the 96.45 area
first area is around 99.31 at the neckline resistance, followed by 2 confluence areas - the first around 97.84 area, the second around the 96.45 area
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neckline broken - previous structure now acting as additional support (that i previously not marked, but did now with the purple zones)
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clean chart without the other clutter
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divergence on 4hr chart
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reached the 2nd resistance area, and somekind of wedge forming on 4hr stochastic.....
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saw a quick test of the 100 level earlier and price wasnt able to get back up above it, and it was rejected as quickly as it was tested.
on the daily RSI still shows oversold, on 4hr an interesting divergence is forming that could hint to a further drop, and on 1hr it just seems to be ranging...
what do you think/see??