Bearish Dollar?
Updated
Going off the weekly order flow, price reached into and rejected off of Mon 14th Nov '22 Bearish order block, on the second push clearing Buyside liquidity resting at Mon 2nd Jan '23 old high.
Price melted lower off the --OB and left a double bottom on its way back to the Premium -OB in the range (Mon 20 Feb '23), The reaction off this level caused a 3-day bearish rollover which shows bearish intent and in doing so confirms another valid bearish order block.
This past week saw price going to fill the weekly imbalance and reacted strongly to it printing a doji candle.
I suspect price will start to roll over lower from the start f July into the equal lows below and then maybe some more.
Price melted lower off the --OB and left a double bottom on its way back to the Premium -OB in the range (Mon 20 Feb '23), The reaction off this level caused a 3-day bearish rollover which shows bearish intent and in doing so confirms another valid bearish order block.
This past week saw price going to fill the weekly imbalance and reacted strongly to it printing a doji candle.
I suspect price will start to roll over lower from the start f July into the equal lows below and then maybe some more.
Trade closed: target reached
The fuel for the move was July NFP report. We, as of this writing have price trading well below the 101.00 mark.
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