DXY - CPI Data Day 💣
Since it is a big day for the dollar it is only right we take a look at the DXY to get a better perspective on what we can expect.
I am in two minds - the daily chart would suggest we have an incomplete compression that needs to push higher to take out early sellers.
BUT
The four-hour charts suggests that breakout sellers have already been liquidated and that it may be time the buyers get a stop hunt.
What will happen is unclear but at least we have two scenarios we can work with depending on price action.
Keep this in the back of your mind during trading today and make your own judgement.
I am in two minds - the daily chart would suggest we have an incomplete compression that needs to push higher to take out early sellers.
BUT
The four-hour charts suggests that breakout sellers have already been liquidated and that it may be time the buyers get a stop hunt.
What will happen is unclear but at least we have two scenarios we can work with depending on price action.
Keep this in the back of your mind during trading today and make your own judgement.
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