titi

DXY QE or not QE that's the Q&A

INDEX:DXY   U.S. Dollar Index
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To Jr: thanks for the question, not an easy one :)
I had problem publishing the accompanying text, it said "Trading view is only for English content", but the text was in English...
titi
3 years ago
Try this one with "editing"
Here we go:
Here's my homework

M1 chart DXY
1. Big triangle on bearish trend, bear started 7/2001 at 121.02, triangle started base 3/2003 at L 70.69, top 11/2005, current price 81.29 at 50% Fib of this SH and SL
2. Smaller triangle inside big triangle, start 03/2010 and also on top of Ichimoku cloud (rather thin)
W1 Chart
3. Range bound between more or less Fib 38.2 (79.07) and 61.8 of the big triangle (84.24) since 12/2001
4. Weekly pivot 80.89 and monthly pivot 80.65
Currently strong support at lower up TL of small triangle; weekly and monthly pivots, 50% fib of small and big triangles; previous low 80.50; top of Ichimoku
Signals for the downside of DXY : potential BO of small triangle (already at 80% apex length, could stay in the small triangle some time until 85% length); weekly and monthly cable: busted symetrical triangle and <10% move from BO of lower TL of the triangle and low; possible formation of a dragon pattern and weekly close above descending TL : cable up; monthly and weekly EURUSD: atm at resistance upper TL small triangle; XAUUSD uptrend, on monthly bullish pattern unfolding, USDJPY CD leg of a bullish pattern, USDCHF atm at resistance of down TL, monthly TNX at R3 and stoch RSI 100
Arguments for the upside : AB=AC flat correction, Perspective of QE tapering. IMHO I think QE taper will be delayed until 2014. ATM I don't see any other usable harmonic pattern on DXY so looked for them in other USD pairs. Greetings, titi
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