I marked this up a while ago, and it looks like it is still respecting structure made earlier ( June 2017 )
Price is currently at the 618 fib level where it has tested and got rejected over the last couple of weeks.
Next week is the interest rate decision, expectation is that the interest rate is not going be increased.
If they do increase, the US might fall ...
Lets complete wave 5
Share your thoughts and observation in comments session :)
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Looking at the US dollar currency index-
Bearish divergence on histogram and RSI
W%R showing that's its over bought
Price nearly reaching the target of 618 fib
This is where ill be taking my profits. Looking for a short opportunity on the 618 fib which may take some time on the monthly chart.
My target for the short would be around the 786 fib due to previous ...
DXY formed a bearish harmonic, we are approaching the inner resistance on the monthly bullish channel. We have three bearish candlestick patterns also forming three peaks. The yellow zone is where price will make a decision. I think we might still a drop in December as it is that time of the year (Holiday Season) but it will be interesting to see what happens in ...
Might go down from here, if it doesn't we can see the DXY go to 97.20. At that level I'll watch the chart closely, and publish my idea. Don't make any trades based on this chart! Leave your idea under this message
Hi everyone !
Yesterday i shared three analysis on EURUSD, GBPUSD and USDJPY. As all theses pairs are trading with the Dollar U.S. , there is an analysis on the Dollar U.S. Index.
Since mid-September, DXY is on an perfect uptrend. One week, there is a run and the next week a 50 % - 65 % retracement.
The past week, we were in a retracement of the previous run, ...
With the recent announcements from FOMC members this week along with technicals, I can look for a short position entry soon. Let's start with the fundamentals. The Recent Non-Farm unemployment releases pointed towards a stronger economy for the United States, but that was a minor blip in the overall health of the currency. As a country, there are still plenty of ...