Long dxy. Hourly divergence big bounce Long

U.S. Dollar Currency IndexTVC

Description

⋅ Jul 23, 2020 11:03 AM

Here dxy is showing another big divergence on the hourly charts.

It’s actually currently slightly above the weekly low set around March. So here would see some shorts taking profits and bargain hunters stepping in.

Falling wedge as well. We can expect a move up to either of the red resistance lines for day trade profits.

Trade closed manually

⋅ Jul 24, 2020 10:00 AM

See below for comment

Comments

breakoutfakeout

⋅ Jul 23, 2020 6:08 PM

Great initial pump for some profit taking then a rip through the stop loss. Terrible news for dxy and really alternative currencies need exploring. But where? Crypto perhaps...