Price has been consolidating within Fibs golden ratio while creating a typically bearish descending triangle, applying Elliot Theory (still learning btw) I find this pattern interesting at the bottom of a HTF bullish channel. With current monetary policy (as I understand it) Trump is intentionally weaking the Dollar to favor USA manufacturing. If this trend continues I believe it´s possible DXY reaches 91.00 levels and potentially keep boosting risk assets and/or gold.
50 DMA supports bearish momentum, Is the Dollar about to break down?
50 DMA supports bearish momentum, Is the Dollar about to break down?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.