DXY FORECAST- 28.10.2020
Looking at the DXY on the daily timeframe we can see that the market is making a series of lower highs and lower lows, indicating a bearish market structure.
- The market is currently sitting at the 93.300 key level. This is a critical point for the DXY as we could see two probable scenarios:
***1. A third bounce from the 93.300/61.8% fib extension level to create another LH, before another sell off
***2. A break of the 93.300 level, a retest and further upside movement.
Personally, I am favouring the continuation of the bearish market structure (third bounce scenario); thus, will be looking to:
Sell - USDxxx pairs
Buy - xxxUSD pairs
Only if there is a valid set-up
- The market is currently sitting at the 93.300 key level. This is a critical point for the DXY as we could see two probable scenarios:
***1. A third bounce from the 93.300/61.8% fib extension level to create another LH, before another sell off
***2. A break of the 93.300 level, a retest and further upside movement.
Personally, I am favouring the continuation of the bearish market structure (third bounce scenario); thus, will be looking to:
Sell - USDxxx pairs
Buy - xxxUSD pairs
Only if there is a valid set-up
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.