As you can see, our analysis for DXY played out exactly how we expected it to.
From now on, we're looking for short setups.
When they move we move, so for now we're waiting for a good entry.
Let's see what they bring us.
Long time no see.. I've been busy with life in general so I didn't have a lot of time to post on here.
Here's my analysis for DXY as I've been looking a lot at EURUSD in combination with DXY lately and I must say, they work perfectly together!
DXY has been forming a nice larger structure with a 3 drive down into the 800 EMA and then reset up.
DXY extends declines for the 4th straight session.
U.S. President Donald Trump said he disagreed with the Federal Reserve’s decision to raise interest rates.
Possibility that the Fed might slow down the pace of tightening in response to criticism from the White House weighing on the dollar.
Technical indicators are biased bearish. RSI and Stochs have rolled over ...
DX is seemingly in an overextended bullish impulse leg. Fading short entry here would be premature. Waiting for the next weekly close and entering short if the close is bearish would increase the odds. Trading profitably, the higher TFs in particular, requires a lot of patience, sound risk & trade management techniques coupled with a clear understanding of ...
We are likely to see US Dollar self off in the coming 4 to 12 weeks before we resume the Bullish trend . We are still in the weekly bullish long-term trend channel.
NOTE: this is in the Long-term ( 4 to 12 weeks )
The Dollar under the Monthly 50SMA is toast, doomed. Why? Take a look at the previous 2 major declines of the Dollar. The last one is on the chart and highlighted with a yellow ellipse. Recently price is worming around it (red ellipse). Once it is below the Monthly 50SMA again there is nothing to stop it from falling like a rock. Currently, the price is under it ...