Hi traders! This is DXY REVISITED We covered the DXY in the STATE OF THE MARKET VOL.2. At that moment, the price finally bounced of our order block and found some kind of momentum upward. That bull run had a few legs because it ran for some time before finding resistance around 95.00 Like any type of trend, the price has to retrace to become a healthy run....
DXY 1D Strong Short Resistance: 96,50 Support: 94.19 - 92.00 - 91.90 This is not investment advice
Just a small update on my previous ideas regarding the DXY. Straight-forward sell set-up, strong bear div.
Continued idea from before. For some reason there is a delusional expectation that the USD will rally due to Trump and "interest rates". I strongly believe it will fall during 2017. Strong bear divergence in the RSI, as well as the fact that the RSI has rolled over.
There is a strong bear divergence on the 1W and 1D DXY chart. I believe during 2017, the DXY will fall to the low 80's. I base this not only off the bear divergence illustrated above, but my strong doubt that the Fed will raise rates during 2017, and that the US economy will continue to slow.
Upside trend should be confirmed (started 1h before last ECB & FED press conferences) ... A continuous bullish move we`ll see by prices above 103.56 (last week high & yearly high) and bearish move by prices under 101.78 (last week temporarly high). But prices above 99.11 still are still don`t damging the slightly bullish picture (on higher time frames) ... How...
99.11 DXY is in my opinion still the make or break line prices above 99.11 DXY are suggesting still bullish scenario into new highs 2017 - eventhroughout Trump Election prices under 99.11 DXY are suggesting sharper fall into SellOff Area sceanrio - even while Election Night in nov`16 I can still imagine after yesterdays 1st sharp rise after Trump Election...
Dxy formed double top on H4 seems now again a drop from current level So advice Sell usdjpy cmp 110.8 next pending 111.6 Sl 112.3 TP 109 Buy Gold cmp 1207 next pending 1194 SL 1285 TP 1260 use small lot