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DXY has been in free fall last month, however fall might be over as price is closing in on monthly support line of ascending channel that started back in 2011.
Let us know what you think about...
Follow up on last week post about our bullish stance on the USD. We got a nice bounce off the trend line and swing in the RSI. Price action may have outpaced the buyers; pullback to $92.5 looks imminent. If bulls push the Dollar above $94, this could signal a much bigger reversal. Let me know your thoughts!
Although the dollar has been very weak lately especially in Jul 2020. If we read and trust media reports, they are painting a catastrophic picture of dollar. But we go to the higher timeframe and start to put things in perspective, it starts to form a contrarian picture of dollar. In this analysis, I take top down approach in the analysis from Monthly...
After a slightly less volatile week, BTC has pulled back from testing the $12000 price level. Analysis of Trend lines, RSI and general supply/demand suggest the retest to $12,000 is more likely then not! Looking for price action following this retest for double top formation and possible short entry. Fail
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Dollar strength at the 8 hour view.
The dollar strength tested near a long-term support and finally bounced... for now. The dollar strength's bounce was able to provide a key reversal day in gold and stopped the momentum in silver.
To me, that's a good thing. Why? This event may provide a decent re-entry into precious metals. The ultimate trajectory of the...
This is an update on the DXY analysis I've been posting about recently. In my last post I highlighted the fact that USD was losing ground on the DXY chart breaking out of its multiyear diamond pattern dating back to 2014. This diamond reversal pattern ultimately has targets of around $80 and the USD is now sitting at around $93-94. Since my last post there was a...
Using the correlation to the DXY - there is a strong chance that EURUSD is going to hit support then reverse to continue the uptrend. Although we do need to watch price action at 1.18000. With everything happening in the US right now, the Dollar is weak, which in return is keeping the Euro strong.