After a bearish movement from 93.50 to 91.90, Now DXY corrected to .786% fibo ret and again time to goes down.
Fed announcement was not surprising and Powel said we waiting for next move job claim and NFP to start tapering.
So, I think DXY will weak until next month data.
XAUUSD struggling with broad channel that broke last week.
Yesterday, XAU had fake break out under his rectangle, But, after US data, XAU back in rectangle again and for third time touched the line.
What you think about next move???
DXY is firmed a wedge in lower timeframe, While, a broad channel surrounded the price for 14 weeks.
Price needs to break the channel to goes up or down.
So, Sell or buy that, when hit the bottom or touch high.
XAUUSD firmed a rectangle under the broad channel and now needs ta make a decision to goes up or down.
According to last week candlestick, I think it has more chance to go down.
However, Im waiting to the signal to trade.
Again time to long UKOIL.
Two weekly neutral candlesticks that broke above high, bullish flag on higher timeframe and finally broken rectangle are signs of strong uptrend.
Risk- reward is so logical, So, dont hesitate and trade this.
Have a good week fellas.
Good day fellas.
Look at US30Y and US10Y. It seams US10-30Y will push DXY higher again and all Dollar pairs will weak in future.
If positive correlation between DXY and BOND is remain yet, So, without any doubt its time to long and hold DXY again.
Be careful guys