DXY looks for correction

8 בספט׳ 2022

hi guys. Bias for DXY is still up. However, with the yesterday 4H bear candles, dxy seems go down a bit. I don't think it goes down lower than 108, as it had plenty of time to do that but did the opposite in the last few days. For eurusd, I assume that considering dxy at 108, the pair can up to 1.01700 to 1.01900 which is a key level in upper timeframes. I think this is the area in which institutions and long-term traders will start selling Euro. If this analysis comes true, it is quite reasonable to sell EU.
What do you think of it?