DXY followed our technicals from yesterday 100%. If you recall, we predicted that it would see some support off 98.99, since this was the lower bound of the range. Later, it was able to punch through this and sail through the vacuum zone we discussed yesterday. We have to go to 1 hour candles and go back even further to the beginning of May to get the next level 98.66. There is another vacuum zone down to 98.29, if there is another selling wave. But it is likely that we will see some drift upwards as the dollar feels out this new territory.
The Kovach Chande (purple line) has picked up notably, and we see a green triangle on the Kovach Reversals Indicator (KRI) indicating that we may see some bullish drift or ranging as the DXY digests this new price point.
The Kovach Chande (purple line) has picked up notably, and we see a green triangle on the Kovach Reversals Indicator (KRI) indicating that we may see some bullish drift or ranging as the DXY digests this new price point.
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