larry
Long

DXY FALLING WEDGE BREAKOUT CALLS FOR 100 DXY TARGET

TVC:DXY   U.S. Dollar Currency Index
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.
Comment:
Comment: DXY breaks triangle.
Comment:
Update: DXY seems ready to break to the upside out of its bullish triangle pattern. Immediate target is between 98.40 and 98.80. 
Reply
What do you have to estimate the eye? than the channel instead of the wedge. You are cheating people - instead of truth is fantasy.
Reply
larry ElenaPletneva
I wish I knew what you meant. The trust is, I don't understand.
Reply
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