TVC:DXY now trading at highly oversold levels approaching demand zone between 88.28 - 90.29. Divergence on CCI is obvious. In months ahead we could anticipate some kind of rebound in USD.I mean 20 January could be a catalyst for a rebound in INDEX:DXY
Nice chart - this is something we are seeing on the DXY. As well as the Elliott extension daily. It's due a pullback if it's not a full reversal. Happy New Year to you!
Tomasgei
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@Mayfair_Ventures, thank you. Yeah the DXY is extended prety well. Its look you anticipate 89.00 level as bottom, as defined in your chart. Its meaningful for me in ralationship with divergence.
Mayfair_Ventures
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@Tomasgei, I use a couple of tools that plot the Supply Demand as well and one of those have it as 88.58. I have Advanced Get for the Elliott count and from calculations the 5 down was in the smaller box - that coupled with Divergence means it's due a pullback. The only issue currently is most of the larger sentiment for retail are all long. So it's got to go and get some liquidity to stop the regular trader out and rise.
Mayfair_Ventures
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@Mayfair_Ventures, Also take a look at NU and AU you can see some key levels within 20 pips of current prices. I am guessing they are again key resistance for retail in general and shorts will go long and then that drop on these pairs will happen.