Up and up by Coldplay is the best song to describe the price action of DXY right now. Read my analysis here first in Gold:
The analysis for Gold is pretty much the same here for DXY, but of course here I recommend a long trade not short!
In a daily time frame, it's about to have a golden cross and so a reversal point for DXY which means a continuation of the price to higher level.
In a week time frame, a continuation of its original trend; don't focus too much on the fluctuation just look at the weekly chart and you'll what the price is doing. Conformance in week and day time frame this is strong.
In a daily time frame, it's about to have a golden cross and so a reversal point for DXY which means a continuation of the price to higher level.
In a week time frame, a continuation of its original trend; don't focus too much on the fluctuation just look at the weekly chart and you'll what the price is doing. Conformance in week and day time frame this is strong.
Comment:
You might have seen already that in the past couple of days the DXY was up and then down, down and then up, but eventually always up. So, this evidence emphasizes my point of reflectivity about the DXY that eventually it has to go up.
Trade closed: stop reached:
DXY is getting weak again; it seems like the Tax reform is not going to be easy and debt ceiling news are looming on the surface again. It's a good idea to get out now.
Trade closed: stop reached:
I've closed the DXY because it seems like the tax reform is not going to be easy and the debt ceiling news are looming on the surface again.