Dollar Index - Conflicting Market Conditions
Last week, dollar index witnessed a stop run into and through the weekly order block mapped out @ 103.885 before a retracement played out, booking price up to the macro dealing range of 104.348 (highs being 104.510). This week, the market managed to reprice up to a premium and above weekly buystops @ 104.510 before a sell-off happened. Candlebody closed as a spinning top bearish doji on the weekly.
Whilst on the daily timeframe, the daily order block has held as 'support', as we are yet to see a daily closure at or below the mean threshold of the OB. Rangebound all week with the dealing range being 104.080 - 104.555.
Awaiting for signatures in price to gauge whether buystops or sellstops is next.
Whilst on the daily timeframe, the daily order block has held as 'support', as we are yet to see a daily closure at or below the mean threshold of the OB. Rangebound all week with the dealing range being 104.080 - 104.555.
Awaiting for signatures in price to gauge whether buystops or sellstops is next.
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