DXY can reverse higher quickly from the point mentioned in the chart. I would prefer to remain long instead of short. Recommendations: Long at 93.65 with stop loss 93.15, Target 95 for short term.
@ridafad52, Yeah right, but technical levels suggest that a bounce towards 97 should come soon. I'm also looking for that and EURUSD down to 1.13
UnknownUnicorn638634
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@AnasRathore, Really? How many times have these technical levels been taken out on dxy - well some folks like to keep catching the falling knife.
AnasRathore
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@jorv2074, You have your own way of analyzing things and I analyze differently. I predict the things according to MY mental ability and if you don't find it appropriate then you can ignore my charts. I haven't put gun on your head to make you do it :)
UnknownUnicorn638634
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@AnasRathore, I never said you put any gun to my head :-) I was providing my viewpoint - DXY shorts are providing dividends until there is a reversal evidence. And so far, there is none in sight. Let me provide an alternative view for what it is worth - as long as there is US political uncertainty (aka, orange man running the show), I doubt you will get any reversal. You may get some correction but not a meaningful reversal. No amount of technical support levels are going to matter. Good luck if you are long.
AnasRathore
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@jorv2074, Good luck with your Shorts on DXY :)
UnknownUnicorn638634
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@AnasRathore, Well, another level down the drain. What is next - shall we move it to 91.92 now? and if that is taken out, the bottom falls out, right bcos I see a big ocean of white space below that level. So where do you think it would end?
AnasRathore
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@jorv2074, I believe DXY is in the bottoming phase. It could be a short to medium term bottom though and then we have to see a bounce towards 96-97 before having another lower leg towards 87-88.
AnasRathore
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@jorv2074, Maybe Friday helps in making a short term bottom. All eyes on Average Hourly Earnings.
UnknownUnicorn638634
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@AnasRathore, We are living on hope here and that is what I call hopium trading :-) Please don't get me wrong, I would love for USD to reverse but I just don't see any fundamental reason for reversal. But, let us see what Friday holds? I too hope it reverses :-) bcos that would result in lot of great trades
but US economy not helping
i want 97