We are longer term on USD it is struggling for more upside. Soon we will see a big drop on USD which will surprise the market.
How you can trade on this chart.
1. Price is about to test the top watch price action on 15 minutes time frame and look for sell form top and keep adding once price fall sharply
2. Wait for the price to form the 15 minutes impulse and then look for sell on 15 minutes correction.
DXY drop means there will be many Good Setups on then USD pairs.
Dropping DXY says ; investors are expecting eased monetary policies from FED (rate cuts , QE , etc...) which triggers the stock market to the upside.
Many analysts already mentioned ; FED may begin to cut rates later this year because of high downside and recession risks.
The economic crisis may begin later this year or in 2020. but i think it won't be as bad as 2008 financial crisis.
Till that time we may see a new record highs on DJI and SPX.I think they formed the temporary bottoms in 2018...
Stocks markets now on downtrend it may continue like this for a period of time , but after that i'm expecting a strong upside reversal on all major global markets.