IkanBilisCapital

Wait for the drop! DXY

Short
TVC:DXY   U.S. Dollar Currency Index
The dollar index has been trending upwards from the bottom of the channel since the start of the first week of September. We are approaching the last week of September and waiting for a drop to come. This can happen next week or in the first week of October. We will try to stay out of trades in the coming and position ourselves for the big drop to come.


BEAR CASE
A fakeout to the upside near 94.00 is likely and we will wait for sell set ups even if it continues to move to the upside.

BULL CASE
We think the upside in capped on the dollar index , it is unlikely that price retest the top of the channel but if it does, we will sell heavily at near the 94.5 level.

Disclaimer

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.