Hello traders,
Today I'm sharing with you my general analysis about DXY .
As we can see in the chart, after the peek the price made a corrective wave and breakdown forming bearish wave with lower lows and lower highs!
During the bearish wave I found that the momentum indicators started to show divergence on 4 hours, 1D time frame.
Till the price found the support near 103 range with double bottom pattern which is a sign for reversal and bearish wave end!
Personally I use Awesome Oscillator and True strength indicator .
Divergence with momentum indicators = momentum is lost!
First target is to test the breakdown from the corrective wave which is located around 110 range.
Not financial advice.
Kind regrads,
Today I'm sharing with you my general analysis about DXY .
As we can see in the chart, after the peek the price made a corrective wave and breakdown forming bearish wave with lower lows and lower highs!
During the bearish wave I found that the momentum indicators started to show divergence on 4 hours, 1D time frame.
Till the price found the support near 103 range with double bottom pattern which is a sign for reversal and bearish wave end!
Personally I use Awesome Oscillator and True strength indicator .
Divergence with momentum indicators = momentum is lost!
First target is to test the breakdown from the corrective wave which is located around 110 range.
Not financial advice.
Kind regrads,
Comment:
Can DXY breakout and continue the bullish move?
Trade safe.