Price has been on an uptrend since January 2019 giving us a series of Higher Highs and Higher Lows, shown clearly on the Daily TimeFrame. Price has also been rejecting to push higher than 98.00 since April 2019. I have highlighted the MACD divergence seen on the Daily and 4HR indicating the possibility of a bearish run.
Moving to the 1HR, price is sitting on the trend-line and a strong support area.
The above is based solely on Technical Analysis.
The strong bearish candle resulted from a news release on Friday, I would wait to see what happens and how price moves and reacts at market open.
However, my overall outlook on the DXY is bearish.
Moving to the 1HR, price is sitting on the trend-line and a strong support area.
The above is based solely on Technical Analysis.
The strong bearish candle resulted from a news release on Friday, I would wait to see what happens and how price moves and reacts at market open.
However, my overall outlook on the DXY is bearish.
Comment:
The bearish run has begun