USDX TRADE IDEA
Hi all
from the weekly chart, the price high and low are almost retracing 0.618%.
Additionally, the Federal Reserve is aiming to lower inflation to 2%, thus we had a pennant pattern break low, which I see as contradicting.
I therefore expect to see a cpi y/y below 3.3 in this week's upcoming release of the CPI data, which could result in strong dollar.
Therefore, I am targeting the 1.618 fibo extension with my buy stop on the daily chart.
Let me know what you think In the comments!
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
from the weekly chart, the price high and low are almost retracing 0.618%.
Additionally, the Federal Reserve is aiming to lower inflation to 2%, thus we had a pennant pattern break low, which I see as contradicting.
I therefore expect to see a cpi y/y below 3.3 in this week's upcoming release of the CPI data, which could result in strong dollar.
Therefore, I am targeting the 1.618 fibo extension with my buy stop on the daily chart.
Let me know what you think In the comments!
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
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Can the resistance hold?
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.