captain_smollett

DXY. Should it stay or should it go?

TVC:DXY   U.S. Dollar Currency Index
Two signal on DXY which countersay to each other:

Bearish: Local trend plus a zigzag development which looks like an expanded flat.
Bullish: Stoch RSI overbearish plus lack of one more impulse up in a 5-waver up plus Fork´s LMLH.

Who wins? We don´t know but possible target zones are set
Comment: So, it broke the fork and supposely started a movement to a lower target. But be careful with the intermediate bounce zone as it can easily get to backtest the fork, getting over previous local highs (where most people place their stops)

Comment: Most retail and pro traders of course. Institutional do not give a heck about these things =)

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