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With FED all set to start the rate cut cycle from today's FOMC meet, DXY is expected to enter the potential reversal zone (PRZ) of not one but two bullish Harmonic patterns, namely, bullish AB=CD and bullish Crab, likely forming a triple bottom in the weekly time frame.
The PRZ is between 100 - 99.60 while the patterns would be considered invalid below 99.50, for a possible bounce (if not reversal) till 103.
When will it enter the PRZ by? Will depend totally on hawkish/dovish, FED Chairman Jeremy Powell is in his statement today.
Regards
With FED all set to start the rate cut cycle from today's FOMC meet, DXY is expected to enter the potential reversal zone (PRZ) of not one but two bullish Harmonic patterns, namely, bullish AB=CD and bullish Crab, likely forming a triple bottom in the weekly time frame.
The PRZ is between 100 - 99.60 while the patterns would be considered invalid below 99.50, for a possible bounce (if not reversal) till 103.
When will it enter the PRZ by? Will depend totally on hawkish/dovish, FED Chairman Jeremy Powell is in his statement today.
Regards
Online courses on Harmonic Trading Patterns, Ichimoku & Trading Psychology Risk Management
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Online courses on Harmonic Trading Patterns, Ichimoku & Trading Psychology Risk Management
t.co/3mGWp29Xkb
t.co/3mGWp29Xkb
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.