jessi061

Dxy losing its strength

Short
TVC:DXY   U.S. Dollar Currency Index
Ascending channel lower trendline breakout. Below the monthly pivot point indicates bearish sentiment. Fall from the past strong resistance 98.67. Floating below the weekly SMA (green). After the counterparts of greenback like the pound and euro had some great comeback over greenback couple of days earlier because of some positive Brexit development news spiraling around the major internet news portals. DXY was having pressure since then and had a pullback but I fear if it's dollar devaluation time then we may see furthermore deep in future ahead.
Comment: Was strong bearish momentum after the channel lower trendline breakout. Price bounced above from my golden SMA (1 n half month period) which acted as dynamic support plus monthly pivot point s3 and now halted for a while above that SMA and s3
Comment: sorry, wrong typo it was not monthly pivot but weekly and that s3 being weekly support level 3 of pivot.
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.