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TayFx
Jun 16, 2020 1:19 PM

DXY Inverse H&S 13:18:09 (UTC) Tue Jun 16, 2020 Long

U.S. Dollar Currency IndexTVC

Description

Still waiting for this to confirm this morning, prior to Powell speaking at 1400 UTC.

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Comments
aaronsmth5
What would your target be in the near term?
TayFx
@aaronsmth5, It's still neutral trend. 98 upside 1, 100 upside 2, 96 downside
TayFx
what do you think? @aaronsmth5,
aaronsmth5
@TayFx, I think that is pretty in line with the chart's long term resistance/support. I've been following your posts about DXY to help me purchase puts on major indexes haha.

I'm curious how far they might be willing to go with dollar devaluation to make the markets "look healthy" solely from liquidity and possibly inflation. I'm bearish but it's hard to be a bear when it seems like the DXY dumps every time SPY or QQQ are at major resistance levels. Likely holding puts until DXY breaks over 98 and will continue to follow your work.

Thanks, as always
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