Dollar Index In TroubleBig Blow To DXY
Weekly Close Below 105.95 Trouble Will Arise.
SL - 107.35
Stay Cautious With US Market.
Dxy_short
usdcad analysis Trade Idea: sell
📍 Entry: 🎯 Target: ⛔ Stop Loss: (MARKED IN CHART)
💡 RISK REWARD 1 : 2
💰 Risk 1% of your trading capital.
⚠️ Markets can be unpredictable; research before trading.Disclaimer: This trade idea is based on Elliott Wave analysis and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions.Informational onLY !!!!AND IF YOU have any doubt , WHAT STOPPING YOU TO ASk
DOLLAR INDEX WSigns of troubled times ahead for the Dollar. After holding on to critical levels around 92 for a while the recent decline persisted to drag the currency basket lower and trigger the immediate support levels around 92. What we are seeing now is a decline that has been persisting and has maintained a vice like grip on the recovery. The charts show that the prices could at the maximum react to the median line beyond which it looks challenging to sustain. Thereby triggering a collapse everytime we see a rally towards 93 levels. This level coincides with the previous recovery point this leading us to maintain a bearish bias for the coming few days.
The lower channel is at 87 which is at a distance and could attract the prices if the underlying bearishness persists.
