Long-term view of the dollar index
Looking at the monthly structure, it's seen that the dollar index is in a down trend. Previous analysis on the 6 months chart shows a bearish engulfing and a bearish inside bar candle, signifying continuation.
Last month candle displayed a pin bar and for this reason I'm more bearish than bullish on the dollar in a long term.
On the weekly chart, we are down trending but price didn't close below previous structure. Price had to go and fill up the last supply on the weekly chart, therefore confirming my bias.
On the daily, internal structure has been bullish but gotten bearish when the RBR was taken inside the weekly supply. Should they be any pullback, we look to short at daily supply zones down to atleast the weekly breaker.
Last month candle displayed a pin bar and for this reason I'm more bearish than bullish on the dollar in a long term.
On the weekly chart, we are down trending but price didn't close below previous structure. Price had to go and fill up the last supply on the weekly chart, therefore confirming my bias.
On the daily, internal structure has been bullish but gotten bearish when the RBR was taken inside the weekly supply. Should they be any pullback, we look to short at daily supply zones down to atleast the weekly breaker.
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