10.24.2023 DXY Outlook
Following an inverse session against the indices, DXY took a sharp dip, signaling a potential shift. Anticipate a rebound in DXY as part of a strategic manipulation within the weekly profile.
Examining the 12HR chart, a conspicuous buyside imbalance presents itself, offering a potential opportunity for a downward move later in the week. Historical reference points, including the Daily FVG and Weekly FVG, may come into play, potentially driving prices lower. It's crucial to bear in mind that these observations are made well in advance of market open, and conditions may evolve. Additionally, keep a close eye on Jerome Powell's post-market address, as it could significantly impact the Dollar. If DXY undergoes consolidation tomorrow, expect relatively subdued activity in the indices. Stay vigilant and trade wisely!
Examining the 12HR chart, a conspicuous buyside imbalance presents itself, offering a potential opportunity for a downward move later in the week. Historical reference points, including the Daily FVG and Weekly FVG, may come into play, potentially driving prices lower. It's crucial to bear in mind that these observations are made well in advance of market open, and conditions may evolve. Additionally, keep a close eye on Jerome Powell's post-market address, as it could significantly impact the Dollar. If DXY undergoes consolidation tomorrow, expect relatively subdued activity in the indices. Stay vigilant and trade wisely!
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