*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
!! This chart analysis is for reference purposes only !!
Recap: Green trendline has the potential to become a new resistance that could lead $DXY to retest the support depicted in red. Support has been holding up for the past six months...but will June be the month that breaks the camels back?
Bullish scenario for the US dollar $DXY is pretty self-explanatory, but my team wanted to share with you guys a bearish scenario that could also play out. We aren't fortune-tellers so don't expect a bearish scenario to play out exactly how we've depicted it, but this chart should serve as a useful reference tool throughout June if we do see further correction on $DXY.
If you want to see more, please like and follow us @SimplyShowMeTheMoney
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
!! This chart analysis is for reference purposes only !!
Recap: Green trendline has the potential to become a new resistance that could lead $DXY to retest the support depicted in red. Support has been holding up for the past six months...but will June be the month that breaks the camels back?
Bullish scenario for the US dollar $DXY is pretty self-explanatory, but my team wanted to share with you guys a bearish scenario that could also play out. We aren't fortune-tellers so don't expect a bearish scenario to play out exactly how we've depicted it, but this chart should serve as a useful reference tool throughout June if we do see further correction on $DXY.
If you want to see more, please like and follow us @SimplyShowMeTheMoney
Comment:
Please refer to our 6/1 DXY chart. It doesn't look like the bearish scenario will play out. Although AUDUSD may jump from the Aussie bank rate hike in a few hours which may take strength away from $DXY
Comment:
Apologizes. Our 5/24 $DXY chart is the one that we meant to refer to.
