US Dollar IndexLong
A bullish DXY
I think the dollar index DXY is gonna go higher coz of the recent price action. On the daily timeframe, we had a BOS and price created a swing failure as we couldn't close above the previous month's high. Price then retraced, took out internal range liquidity, tapped into a higher timeframe POI and reacted bullish (CISD). NFP triggered buy entries from the 4H OB, which rested below the pdl. Besides, the unemployment rate data indicates strengthening of the dollar as the rates have decreased from 4.3% to 4.0% in the past 6 months. I am confident jobs are increasing in the United States and unemployment rates will decrease
DXY is gonna go higher coz of the recent price action. On the daily timeframe, we had a BOS and price created a swing failure as we couldn't close above the previous month's high. Price then retraced, took out internal range liquidity, tapped into a higher timeframe POI and reacted bullish (CISD). NFP triggered buy entries from the 4H OB, which rested below the pdl. Besides, the unemployment rate data indicates strengthening of the dollar as the rates have decreased from 4.3% to 4.0% in the past 6 months. I am confident jobs are increasing in the United States and unemployment rates will decrease
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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.