DXY might likely sell off before resuming bullish trend

We are likely to see US Dollar self off in the coming 4 to 12 weeks before we resume the Bullish trend . We are still in the weekly bullish long-term trend channel.

NOTE: this is in the Long-term ( 4 to 12 weeks )

Comment:

A lot of Emerging countries are starting to feel the pain of US Dollar strength due to diminishing Current accounts and money outflows

-- Turkey due to stupidity and geopolitics of Tariffs and Lira
-- Argentina
-- India
-- China
-- Hong Kong
-- Indonesia
-- Malaysia
-- Italy ( Spoiled brat -- someone has to learn to clean their own mess in their budget)

Comment:

EURUSD :

Resistance:
1.1360 (200-week moving average)
1.1400 (psychological level)
1.1433 (Monday's high)

Support:
1.1312 (July 5 low)
1.1285 (June 2 low)
1.1187 (61.8 percent Fibonacci retracement the rally from 1.0340 to 1.2556)

TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Bearish Oversold High
1H Bearish Oversold Low
4H Bearish Oversold Low
1D Strongly Bearish Oversold Expanding
1W Bearish Oversold Shrinking


Excerpt originally posted by By Omkar Godbole (FXStreet)