larry
Long

DXY FALLING WEDGE BREAKOUT CALLS FOR 100 DXY TARGET

TVC:DXY   US DOLLAR CURRENCY INDEX
8 months ago
The DXY             has broken out of a falling wedge pattern for a few days now. Now, the 20-day moving average has crossed the 50-day moving average , adding further credibility to this breakout.

Medium-term target is 100 on the DXY             index . Keep in mind the DXY             is heavily weighted with EUR and JPY. For a better idea of how the dollar is doing globally, I would advise to look up the Trade-weighted U.S. Dollar Index, available on the FRED website. To note, despite a double-top pattern on the DXY             , the dollar on a trade-weighted basis has made higher highs.

I am of the opinion that the dollar rally is not over, and that the recent correction is merely a correction in a longer-term dollar rally. I anticipate more pressure on EMs, commodities , and remain neutral to bearish on PMs.
7 months ago
Comment:
snapshot
7 months ago
Comment: DXY breaks triangle.
7 months ago
Comment:
snapshot
ElenaPletneva
8 months ago
What do you have to estimate the eye? than the channel instead of the wedge. You are cheating people - instead of truth is fantasy.
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larry ElenaPletneva
8 months ago
I wish I knew what you meant. The trust is, I don't understand.
Reply
larry
7 months ago
Update: DXY seems ready to break to the upside out of its bullish triangle pattern. Immediate target is between 98.40 and 98.80. 
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