Right shoulder could be in progress.
The US Dollar Index continues to trade within its 1D Rectangle (RSI = 53.043, STOCH = 50.681, Williams = -48.067, CCI = 8.9068, Highs/Lows = 0), supported at 93.200 and resisted at 95.25. Today's position is a short, TP = 93.450. A lower break out is expected around one month's time, as seen on the chart.
I spotted the Head & Shoulders pattern in the DXY chart and share it with you here. It has slope down and it fortifies the short idea. The Neckline is located around 89.30-89.40 level. The calculated target is set at the 87.90 level. (Neckline minus Head's Height)
DXY could be in the last wave of the corrective structure before another big drop. Current position is wave 4 of c of C of (4). Short term weakness shouldn't fool you and I expect wave 5 to come and lift the index higher at least to the 91.50 where wave c=a, after that we should be cautious as another big drop would come It is quite useful to...
Soon we will see USD at the lower extreme. Observing how buying in will proceed. P!
Depending on your time frame I would sell the rips and ignore the dips.
I see a Cypher that confirms the down trend, and we might hit 85, which seems to be supported by the trend channel. But in the meantime there is a struggle right now, a Crab pattern suggest that we shoot for 100 before going down. There also seems to some news that confirm this TA.
Although I am a long term dollar bear, I think next week we see some upside. Maybe even new highs later this year. Daily divergence at a major support is what interests me in a long
Afternoon guys.. 2016 was a roller coast for markets. A year ago investors were in panic about deflation, indeed as the year progressed a good case inflation scenario unfolded. The market reaction following the US elections was even faster that expected. In real terms the USD is ~8% above its 20y average but still 8% below its high in 2002. Hedge funds are long...
My Technicals are suggesting a selloff in USD INDEX is Imminent and sell off would be at least 10% initially, My sell levels between 101.2 - 102.7.
Clearly see the darvis boxes and 5 waves on the DXY weekly
The dollar index futures have been tracing a strong monthly uptrend and currently grinded to a halt, with considerably strong declines in most dollar pairs. Right now, it's range bound, stuck between 10 month levels that will soon become 11 months after March's close. For price to move, it needs to clear this zone, either up or down. Once below, it can accelerate...