DXY retrace for another bearish impulse

23 déc. 2023

Sup, I think dxy is going to retrace christmass and new years week, and after the holidays it's going to continue the selling pressure.

Why? Because market needs liquidity in this time and where is more likely to find it? Going for Stop hunts on previous sell areas.

Also is end of year and a lot of banks and hedge funds are taking profits from USD shorts.

23 déc. 2023

Note

Retrace is about 103.100 to 103.400 and 4 target bear leg is about 100.900 and 100.600

24 déc. 2023

Note

If you see my previous DXY idea you can see we reached all targets in this bearish momentum, very good time to retrace.

24 déc. 2023

Note

I think this also could be a possible scenario in DXY. A further sweep to then a retrace, gonna keep an eye on both.

27 déc. 2023

Note

Second scenario did play out, faster than expected. I think dxy bottomed here for at least a while, should be till next fomc. We could see a decent retrace to 103 there is a big ineffiency there that could get filled in the short term to gather momentum for more dxy downside.