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WhiskeyTangoFoxtrot3
Mar 11, 2019 5:50 AM

DXY Trades Slightly Higher, but Continues Rising Wedge Pattern Long

U.S. Dollar Currency IndexTVC

Description

Some speculate that if there is a trade deal between the US and China DXY will weaken significantly on potential expectations that global growth will increase. However, the trend of the 2019 global growth slowdown has yet to moderate and if anything this trend is only increasing its momentum. DXY though is clearly fixed in an rising wedge, a bearish reversal pattern, which is moving towards a break. The question remains though which way it will break and, more importantly, if there is follow through with underlying fundamentals to drive the technicals. 
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