I think that was the end, at least of this stage, of USD rally.
In the explosive several 100 point moves we had last night we hit major resistance levels in the USD.
DXY has made a 161 extension of the recent range and this is the best topping signal I know of. The rule here is if we're into a top it should turn by/before the 220 fib.
Taking short entries close to the 220 with stops right behind it. We might be due to see a near term USD crash.
(Note, for those who've been hoping for a USD top for stocks to rally - in 2008 the USD and stocks crashed together. The real stocks crash started after the USD rally).
DXY has made a 161 extension of the recent range and this is the best topping signal I know of. The rule here is if we're into a top it should turn by/before the 220 fib.
Taking short entries close to the 220 with stops right behind it. We might be due to see a near term USD crash.
(Note, for those who've been hoping for a USD top for stocks to rally - in 2008 the USD and stocks crashed together. The real stocks crash started after the USD rally).
Trade closed: target reached:
Corrective target complete.
Now, wen moon?
Now, wen moon?
Comment:
Maybe time for moon now?
