DXY Forecast and Trade Setup for the week ending 29th August, 2014
Weekly Chart
- What a huge week for the DXY, clearly broke through resistance and having a huge bullish Candle closing at the highs
- At the time of writing this, we opened Monday gaped up, so we will monitor this.
Daily Chart
- Supply and Demand is at 82.5-82.60 area,
- RSI Negative Divergence
- If prices do surpass the supply and demand zone, then the next resistance could be around the 83.00 level which is the upper channel of perhaps the andrews pitchfork? (dunno how to draw it but i think it looks the same!)
Outlook Trade opportunity
During asia, i am taking advantage of the gap up higher but stalled at shy of 82.60 (supply and demand) and choosing the Aussie for a small scalp to the long side.Perhaps a small position to short the DXY with stops above 82.60
No comments:
Post a Comment