* DXY has been in a descending parallel channel on the weekly timeframe, and we are currently above the midpoint.
* Will DXY complete the double top pattern (labelled "1" in green)?
* Or is a double bottom (labelled "2" in red) currently forming which will push DXY to the upper end of the parallel channel?
* I tend to favour 1, but shall continue monitoring.
* Will DXY complete the double top pattern (labelled "1" in green)?
* Or is a double bottom (labelled "2" in red) currently forming which will push DXY to the upper end of the parallel channel?
* I tend to favour 1, but shall continue monitoring.
Comment:
Path #2 may lead to a triple top too and a subsequent short too. However, given what is happening at the policy level, I still tend to favour #2. (Unless another black swan event happens.)
Comment:
Typo in the above comment. It should be "However, given what is happening at the policy level, I still tend to favour #1." The sentence would not make sense otherwise.
