Just look at how far the purple line is from the yellow line on the monthly RSI. The US dollar is due for a correction.
As you can see it shot up 12% from the neckline of this double bottom pattern which is the exact measured move and started retracing on the shorter timeframes from about 111.8. I could see it going higher maybe to 113 or even 115 but I think we are very close to the top of this impulsive wave.
Good luck
As you can see it shot up 12% from the neckline of this double bottom pattern which is the exact measured move and started retracing on the shorter timeframes from about 111.8. I could see it going higher maybe to 113 or even 115 but I think we are very close to the top of this impulsive wave.
Good luck
Comment:
The DXY is now at support
Comment:
Comment:
If daily RSI can't cross the 70-75% ish line, we have a local top forming on DXY, which could be very bullish for equities for the next few months