Why Selling The Dollar Isn’t A Good Trade

TVC:DXY   U.S. Dollar Currency Index
The US Dollar has been falling since the start of 2017, and even for most of January in 2018. Many banks are calling for a continue weakening in the US Dollar for the rest of 2018, riding on the down trend established since last year.

However, our analysis tells us otherwise. While we currently still do not have a fundamental catalyst to tilt the Dollar to the upside, we are seeing the downside for Dollar to be limited. In fact, there is a fair chance we will see a deep retracement, if not a reversal in the Dollar soon.

We are seeing a 5-wave completion on the Dollar, with a diagonal forming on the 4-hour chart. What we need is simply a catalyst or fundamental tilt to align our technical outlook.

Keeping a close watch on this next week.

*This is not a trade call to enter a long position on DXY . Make sure you have a proper plan to trade and manage your risk.
Nice setup
here's the monthly view as well ;)
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out