WARNING: BEARISH PRICE DIVERGENCE Higher Highs and higher Lows while price is consolidating and RSI & CCI are making Lower Highs and Lower lows
Indicates reversal of DXY might be in the works, watchout . The DXY might collapse if it continues to consolidate so be on the lookout.
We still expect US Dollar Strength but it seems we are starting to run out of steam again on this particular rally.
Can we hold on and continue to rally ?
Comment
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DXY is now approaching 96.00 , its been a very strong rally . EURUSD and other currencies have been obliterated along the way.
EURUSD become a punching bag after the ITALIAN Drama Queens with the italian budget.
The most 3-hour or 4-hour and now daily RSI & CCI indicators show Overbought on DXY and Extreme Oversold in EURUSD .
WARNING: US Dollar still has room to move upwards. At the moment , there is nothing positive out of the EU and therefore EURUSD is on the Chopping block