Dollar is on the verge on releasing from the contracting volatility funnel.
It reacted at the previous point of release to the pip.
I suspect price to release to the upside, as uptrend is still in place (no lower low) and as you see dollar corrects itself in those contracting funnels.
If price releases to the downside (what is possible) there will be a massive gap slip. For that price needs to start trading the yellow box, below the previous low.
TIP: USDOLLAR Index is generally more accurate than DXY
For educational purposes
It reacted at the previous point of release to the pip.
I suspect price to release to the upside, as uptrend is still in place (no lower low) and as you see dollar corrects itself in those contracting funnels.
If price releases to the downside (what is possible) there will be a massive gap slip. For that price needs to start trading the yellow box, below the previous low.
TIP: USDOLLAR Index is generally more accurate than DXY
For educational purposes
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.