LONG TERM VIEW

It is possible we have an expanding triangle in play on monthy timeframe and current structure supports that concept. This is one of scenarios i consider and if 98.00 level falls this is most likely outcome

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Dxy is tanking, lets see if can find some support on daily trendline.

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Price has fouund support on trendline and we have hammer candle which indicates futher up move.

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DXY falls big time..

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I consider two options at the moment.

Bounce or break of trendline at around 99 level.

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Still droping without any solid pullback.

I expect lower timeframe correction very soon.

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Watch price action as we aproaching key level.

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Breakout of correction.

DXY will continue to fall to around 89 level where we might have a reversal.

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Total reversal is not confirmed yet despite price has bounced from monthly trendline and broke daily downtrend trendline.

Next critical level is at 95.50 - 95.60 where we should have more clarification.

One more wave down in this bigger structure is possible.

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We may have the major reversal as price development show signs of inv head and shoulder pattern and pice broke two downtrend trendlines.

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Breakout

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Inv head and shoulders invalidated and it looks like price heading to initial target or at least should retest previous low.

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Price has fallen lower than expected.

Still expecting reversal as long as lower monthly trendline of channel is not broken.

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Price is at a key level and both scenarios are still possible.

We might still have one small drop and big reversal or total fall

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You may want to take this trade as it might be long-term reversal

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Possible lower degree expanding flat abc correction and we are going up

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At this price action indicates we might have major reversal as expected

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Bigger picture

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Bigger picture