cozzamara

DXY: Bullish but bearish in divergence with RSI

TVC:DXY   U.S. Dollar Currency Index
Hi Guys,

the above structure reflects my view of the US Dollar Index ( DXY ).
100SMA supported the bull run started in 2014. 350SMA supported the bearish impulse 12345 following Trump's election.
Structure since 2015 may be a wave 2 shaped as a bear flag that looks like a H&S with descending neckline.
Since Mid Nov'18 hights made by RSI are diverging with hights made by Index.

Last Wednesday Week11 Jerome Powell confirmed that no rate hikes are expected this year. During and after FOMC meeting DXY moved down briefly below 96 to recover just above 96,55.

Now I have to work on the hourly chart to prepare for week12.

Thank you for your support and for sharing your ideas.

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Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.

Comment: At the same time, though, Trump wants a weaker dollar because he needs that to fund his gross fiscal debauchery to spend our grandchildren into debtor’s prison.
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