Every market environment from time to time change it’s structure. As traders we have to identify the structure of the market environment and adjust our trading strategy to it. We had a USD range from 92-100.500 in over a Year after it’s rise from 80-92.60 in 2014/15. This has set the Forex market in a range environment. Last week we had a break form the range in DXY index, and this was an uptrend continuation. When you are a trend trader then this is the most important break.
It is important now not to look for reversals here, but to look for long entries in a USD pairs. Look at the perfect examples of downtrend continuation in beginning, based on DXY index break out AUD/USD and EUR/USD.
Immediate target in the DXY is 105 followed by 108 and 110. Now the overall market direction is known, it is USD long and now the only question is the entry point, but only in the direction of the trend. So looking for short entries in EUR/USD and AUD/USD for example.
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