I avoid to analyze DXY chart because performance of greenback vs other currencies is not identical.
This week, with payrolls and many numbers of strong data, I believe USDollar continues to outperform vs Euro, Cable and Yen while lower vs Loonie, Aussie, and Kiwi.
It means USDollar moves in two opposite ways vs commodity currencies and safe-haven currencies.
Look at on the chart, the price action of DXY follows ascending channel I draw on the chart.
SMA200 was behind it. DXY now stops at SMA100 + SMA100
And a flat Kumo cloud on the heat of price.
Here is my view, DXY will test Kumo cloud this week, more appreciation of DXY is coming.
This week, with payrolls and many numbers of strong data, I believe USDollar continues to outperform vs Euro, Cable and Yen while lower vs Loonie, Aussie, and Kiwi.
It means USDollar moves in two opposite ways vs commodity currencies and safe-haven currencies.
Look at on the chart, the price action of DXY follows ascending channel I draw on the chart.
SMA200 was behind it. DXY now stops at SMA100 + SMA100
And a flat Kumo cloud on the heat of price.
Here is my view, DXY will test Kumo cloud this week, more appreciation of DXY is coming.
