IvanLabrie

DXY: Approaching intermediate term top

TVC:DXY   US Dollar Currency Index
DXY             is tracing a very strong uptrend, but it's likely very close to hitting an intermediate term top in the 99.31 to 100.05 range in a couple days. With the election so close, I think we will see fear subside, and thus, dollar strength to wane until the rate hike fears are a concern once again, closer to December.

The chart gives us a proyected uptrend slope, and key levels where price could reverse on retest, downside isn't big, but we can probably look to short, or go long strong individual pairs, like AUDUSD             , or EURUSD             , when the time comes.
Keep an eye on this chart and my updates, and good luck!
Remember to trade with care during this more volatile period.

Cheers,

Ivan Labrie.
Comment: Now this could be the bottom.
hi,
what about USD/JPY?

Will it retrace? If yes, down to what level?
Reply
Hi, Yen, retracement is possible, but less likely to gain as much strength as the Euro can.
DXY will probably stall, or retrace lower, I'll update when we can go long again.
Reply