Can be expected to touch the top. Start shorting from the red region.
I dont care about winter/weather or this or that.
I trade wave counts and patterns.
if you have fundamental issues pls dont take this trade,
and rest of you who do short, enjoy the ride with me.
I will be posting update on lower ...
I tried to put all possible wave count.
look for b wave upside for long setup for next week.
I believe that dxy will go into consolidation for bull flag.
Fib target for (b) is 1.25490.
I will update any change.
Weekly structure suggest huge bullish Flag with ending corrective structure. it could be 3 or 5 waves.
Smart money over the globe is taking refuge in dollar and bonds which could inflate the dollar more and more.
So the fundamentals totally supports the technicals to dxy for breakout above 100.
Strength of DXY ...
EURO is doing huge bear flag and might break down on longer cycle.
We are in corrective structure making flag making D wave. Apparently, given more chaos and currency price wars we can slid down to a parity as 1$ -1euro. though we have chance to bounce back and make E and then drop down.
For Near Short term, it ...
Gold -0.59% is in 4th wave of corrective structure.
Amid all rate cut, we might fall to 1290$-1277$ region.
Which is 0.5 to 0.618 respectively.
I believe that 5th wave might be upside towards 0.5 fib pullback 1474.