The chart is pretty explanatory! All trendlines point to one point on the chart. TP 1.2970
Looking at this daily chart, you will observe that anytime the price is rejected at the upper orange trendline, it consolidates to touch the lower orange trendline. I see the same scenario happening here after the price is rejected at the top orange trendline on Nov 11th.
I don’t trade FX, but the TA seems spot on. Seen a few idea suggesting this, as well as shorting gold and the indexes. Both would indicate DXY is going to bounce next week. It’s near a strong support @ 92.5; & US stimulus isn’t coming soon.
OwlswiftFX
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@Drip_Drop, Thanks man. I also feel the same way about DXY. My analysis on it shows it should reverse at 92.60 - 92.54 region