DXY- A clear falling wedge Long

U.S. Dollar Currency IndexTVC

Description

⋅ May 23, 2021 4:29 AM

Since the beginning of May, USD was weak and dropped again under 90 figure.
However, the drop is not impulsive and the lows are marginal, forming a falling wedge on the lower TFs.
A break of wedge's resistance could lead to acceleration to the upside and we finally can have a correction on usd pairs

Comments

kennypilanski

⋅ May 23, 2021 10:32 AM

nice your work

HollyDary

⋅ May 27, 2021 1:31 PM

Really like your charts.

MMBTtrader

⋅ May 23, 2021 5:52 AM

after breakout rise is expected

Mihai_Iacob

⋅ May 23, 2021 8:35 AM

@MMBTtrader, yes, i wait for the break

1BigPapi

⋅ May 23, 2021 4:34 AM

Just so I'm tracking- you are saying DXY is in correction/downtrend and the bounce up is just a correction along the way?

Mihai_Iacob

⋅ May 23, 2021 4:36 AM

@misterbumble, if it breaks up it can correct.
The long term trend for usd is down though

VenusTaylor

⋅ May 27, 2021 1:44 PM

Nicely done and detailed

Viperboy232

⋅ May 24, 2021 5:01 AM

Not sure we will see a full breakout this week but I can see it staying in that 90-90.50 range

MarcellusLUX

⋅ May 23, 2021 2:12 PM

Perfect set-up, waiting for the breakout :)

AtlasTrades

⋅ May 23, 2021 8:53 AM

I agree with your opinion