We are trading in a triangle since the beginning of this year and now it is in a rising wedge. In the rising wedge made a daily shooting star on resistance of the triangle AND rising wedge.
There is also a small divergence no hidden one, so this might be the first signal for change of trend. Hiking rate with the dollar this high would be a disaster, so fundamentally seen it also has to fall to fill the gap at 88..
If I'm correct we might get a hike in december, earliest possibility. Dollar bulls need to lose steam a bit here.
I see the channel is a bit moved while I was resizing. Here is the corrected one.
There is also a small divergence no hidden one, so this might be the first signal for change of trend. Hiking rate with the dollar this high would be a disaster, so fundamentally seen it also has to fall to fill the gap at 88..
If I'm correct we might get a hike in december, earliest possibility. Dollar bulls need to lose steam a bit here.
I see the channel is a bit moved while I was resizing. Here is the corrected one.
Mentions
dxy
benangus2003
about DXY