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.
So guys, when you hear someone talking about patterns that repeat itself, this is usually what they mean. Can you see that similarity between those two cycles? Sure you do :)
I am expecting this last leg to end at the TL and the 1,414 to 1,618 Fib extension area.
Like if you agree, Follow and support!
Dxy trading around 101.6 where daily high 102.05 as Trend line its can Drop from current level or from 102.05 if hold above 102.2 on Daily then next is 103-103.5 where if hold below 102.2 a corrective move Expected toward 100.3-100.5
If this happen As idea
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 this number.
Since I used JAFR predestionation...
DXY= Dollor Index Trading around 100.4 which is years high then it can drop from current level or from a minor support seems at 100.72 If breaks that 100.72 and hold above on H4 or Daily next station may b 102-102.5
Dxy trading around 98.85 level it can drop from
here as Strong resistance at 99.1 if hold
above 99.1 then monthly Strong Resistance
around 99.7 where if hold above that then
we can see high of 100.5 which is high of nov 2015.
Where if hold below 99.1 a correction as Technical move Expected till 97.6-98 where if breks 97.4 96-96.2 will not surprise