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DXY watch...

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Here's how I see it. 3 arrows pointing at 3 sets of red candle showing the "pattern" of selling.

Arrow 1 shows there were two strong red candles due to hard selling.

Arrow 2 shows a very strong red candle indicating there was a strong selling day but the magnitude was declining as shown by the higher low.

Arrow 3 shows the selling has receded with 2 very weak red candles.

What's next?

Possibly a break out of the 81.50 resistance but the real resistance is actually 82.50, that is where we will find out what is the real strength of the US$.

Let's watch.
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  1. MRC & Co's Avatar
    Yes, that is the level I am looking for this bounce to reach. At 82.50 area I will be looking to re-establish shorts.
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