Continued idea from before.
For some reason there is a delusional expectation that the USD will rally due to Trump and "interest rates". I strongly believe it will fall during 2017.
Strong bear divergence in the RSI, as well as the fact that the RSI has rolled over.
There is a strong bear divergence on the 1W and 1D DXY chart.
I believe during 2017, the DXY will fall to the low 80's.
I base this not only off the bear divergence illustrated above, but my strong doubt that the Fed will raise rates during 2017, and that the US economy will continue to slow.
I suppose third wave has probably started in DXY. Pay attention, I have closed USDJPY longs because it is going to fall dramatically if this setup is true. Good trades to everyone and a Happy New Year. :)
I believe DXY is due for a correction.
I'll be watching the lower trend line for a confirmation while I already see H&S (on lower TF) along with RSI divergence on the current chart..
For my trading Journal.
Sold UJ @ 115.994
TP - Free
Sold DXY @ 101.58
TP - Free
Still running gold buys @ 1186$
TP - 1383 - 1430 ( Once gold there, most probably will close DXY, UJ short trades )
Max DrawDown so far - 35$
Most probably holding UJ, DXY over FOMC.
Will update this idea with FOMC ...
Last DXY shorts bring us great profits, depends on how you managed your trades.
I closed all shorts just before ECB meeting, right on Time, because I needed GOLD to drop and had a feeling ECB can give some strenght to ...
99.11 DXY is in my opinion still the make or break line
prices above 99.11 DXY are suggesting still bullish scenario into new highs 2017 - eventhroughout Trump Election
prices under 99.11 DXY are suggesting sharper fall into SellOff Area sceanrio - even while Election Night in nov`16
I can still imagine after ...
Rare post from me on Dollar Index, but I've been waiting for my degree count to complete as well 3 slopes to be completed where 3rd slope is in development followed by crash.
This analysis is done on pure JAFR calculations, where DXY constant number is 114.56 and degree count has become greater than ...