DXY Dollar Index: The Dollar has nmanaged to wriggle free of the parallels so have closed out shorts and Gold long and await next signal. still believe there is more downside but am awaiting confirmation as per comment - Have hit 10 maximum downloads, so apologise for poor download management. Today of all days
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DXY Still hanging in the balance - still expect more downside but it's putting up a fight here. At best it can rally to 97.80 and perhaps spike to 97.90 so need to refine trigger on DXY to 97.93 - only if it breaches this level would the Dollar be expected to rally further still, to 98.11 and at tops to 98.18 before it comes back to retest the lows (and likely break lower still). The pattern it's making right now is one of continuation...it's still bearish but now tracking down the upper parallel, using that as its speed line ...this is more likely to break down again - but still need confirmation by move below 97.43 using the smaller upper parallel as exit - if it breaks above that line - above 97.70 now - then exit....so draw in the parallel taking out the recent minor highs on 5 minute chart and that's the exit for Dollar shorts today - a break above there and cut shorts for now -