It is possible we have an expanding triangle in play on monthy timeframe and current structure supports that concept. This is one of scenarios i consider and if 98.00 level falls this is most likely outcome
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Dxy is tanking, lets see if can find some support on daily trendline.
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Price has fouund support on trendline and we have hammer candle which indicates futher up move.
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DXY falls big time..
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I consider two options at the moment.
Bounce or break of trendline at around 99 level.
Bounce or break of trendline at around 99 level.
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Still droping without any solid pullback.
I expect lower timeframe correction very soon.
I expect lower timeframe correction very soon.
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Watch price action as we aproaching key level.
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Breakout of correction.
DXY will continue to fall to around 89 level where we might have a reversal.
DXY will continue to fall to around 89 level where we might have a reversal.
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Total reversal is not confirmed yet despite price has bounced from monthly trendline and broke daily downtrend trendline.
Next critical level is at 95.50 - 95.60 where we should have more clarification.
One more wave down in this bigger structure is possible.
Next critical level is at 95.50 - 95.60 where we should have more clarification.
One more wave down in this bigger structure is possible.
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We may have the major reversal as price development show signs of inv head and shoulder pattern and pice broke two downtrend trendlines.
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Breakout
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Inv head and shoulders invalidated and it looks like price heading to initial target or at least should retest previous low.
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Price has fallen lower than expected.
Still expecting reversal as long as lower monthly trendline of channel is not broken.
Still expecting reversal as long as lower monthly trendline of channel is not broken.
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Price is at a key level and both scenarios are still possible.
We might still have one small drop and big reversal or total fall
We might still have one small drop and big reversal or total fall
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You may want to take this trade as it might be long-term reversal
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Possible lower degree expanding flat abc correction and we are going up
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At this price action indicates we might have major reversal as expected
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Bigger picture
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Bigger picture
