Expecting a bullish correction on Dollar Index DXY after such a strong sell-off. Weekly supply level located much higher where we will be able to think of short positions on the Dollar Index DXY. The EURUSD forex cross pair forecast and analysis is very similar but we are expecting a bearish correction instead. EURUSD and Dollar Index DXY are inversely...
Looking at 12 year Up-Trend on DXY we are now facing either way on coming near term months.
Rejection could keep the consolidation
A break and close below TL could test 88.2
This is a big picture for DXY and its situation and keep in mind 1 month chart has huge gap.
Thumbs and Thanks,
The inverse of the US Dollar Index DXY versus select Asian currencies of Japanese yen JPY, Korean won KRW, Singapore dollar SGD, Malaysian ringgit MYR, Thai baht THB, Philippine peso PHP - note recent trends against trends over the last decade.
NOW THAT ELECTIONS ARE DONE, MAYBE THE DOLLAR CAN SHOW SOME GROWTH, EXPECTING PRICE TO STILL REACH SUPPORT LINE AND MAKE ITS WAY TO THE UPSIDE.
STILL NEVER KNOW WITH THE MARKET SO I PLACES AN ALERT AT 92.50. PRETTY STRONG PRICE TO TAKE OTHER CORRELATING PAIRS FOR A REVERSAL TO LOWER SUPPORT AREAS.