DXY - It is time for a correction!

hace 5 días

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 After being bullish for a couple of weeks, DXY is now hovering around the upper bound of its range.

Meanwhile, EURUSD is rejecting the lower bound of the orange falling broadening wedge.

If DXY rejects the upper bound of the range, we will be expecting EURUSD to break above its last major high in orange.

In such a scenario, a bullish correction towards the upper bound of the wedge pattern would be expected on EURUSD.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich