Dollar is KING with FX Analysis
Quick one for this morning, please comment your thoughts (opposing or agreeing as happy to read peoples thoughts on my analysis)
Dollar should be at the forefront of analysis when trading Dollar pairs. Why? Because Dollar is King.
Following on with a tonne of breaks in daily structures on the likes of Cable and EUR/USD, we are likely to see some what of a continuation (although a pullback may be necessary) lending itself nicely to the fact DXY front month has left a double top on the daily timeframe. Prime zapping opportunity for Institutional Traders and potentially a large amount of liquidity resting above there too. We may see a rebuild of liquidity on that double top hence why we are likely to have a pull back to the upside in foreigns.
Once the DXY has generated enough liquidity above the double top we will most likely see it raided and potentially a run up to the Institutional Flow Block which, coincidentally is the top of a recent void which has yet to be fairly auctioned.
Short snappy trade plan - look to buy dips in DXY (sell spikes on foreigns, I will be looking at GBP and EUR vs the USD)
Trying to gain traction with my market commentary and will aim to post various market analysis if I can gain enough views. Please like, comment and recommend to friends.
B
Dollar should be at the forefront of analysis when trading Dollar pairs. Why? Because Dollar is King.
Following on with a tonne of breaks in daily structures on the likes of Cable and EUR/USD, we are likely to see some what of a continuation (although a pullback may be necessary) lending itself nicely to the fact DXY front month has left a double top on the daily timeframe. Prime zapping opportunity for Institutional Traders and potentially a large amount of liquidity resting above there too. We may see a rebuild of liquidity on that double top hence why we are likely to have a pull back to the upside in foreigns.
Once the DXY has generated enough liquidity above the double top we will most likely see it raided and potentially a run up to the Institutional Flow Block which, coincidentally is the top of a recent void which has yet to be fairly auctioned.
Short snappy trade plan - look to buy dips in DXY (sell spikes on foreigns, I will be looking at GBP and EUR vs the USD)
Trying to gain traction with my market commentary and will aim to post various market analysis if I can gain enough views. Please like, comment and recommend to friends.
B
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