I had posted recently that the DXY had made a tripple top at 95.5 which is a resistance point coming from Oct 2017. it remains in the upward channel for now, I will be waiting for a break of this channel it will be a great short opportunity for XXXUSD pairs.
As the RSI on daily and 4hrs is still intact there is a small chance to continue up the channel to the solid blue line at just below 97. When I look at major USD pairs they have all broken key levels and I didn't see a flush out to call the bottom. In the case of EURUSD it should reach 1.145 200MA weekly; this leads me to believe the DXY rally may not be finished yet.
My focus next week is on XXXJPY pairs & commodities. USDCHF is probably the only pair I am confident that its now short after breaking a key channel which can go down and the dollar can still go up as EURUSD is 57% of the dollar index.
GL
As the RSI on daily and 4hrs is still intact there is a small chance to continue up the channel to the solid blue line at just below 97. When I look at major USD pairs they have all broken key levels and I didn't see a flush out to call the bottom. In the case of EURUSD it should reach 1.145 200MA weekly; this leads me to believe the DXY rally may not be finished yet.
My focus next week is on XXXJPY pairs & commodities. USDCHF is probably the only pair I am confident that its now short after breaking a key channel which can go down and the dollar can still go up as EURUSD is 57% of the dollar index.
GL