Short into the NEW YEAR - US DXY

13 нояб. 2021 г.

As you can see the US DXY is finding resistance on the upper trendline of the fractal, the Stochastic RSI approaching a bearish reversal.

However, the DXY may show strength and attempt to break the fractal in the short term, so beware. Though an extended break from the fractal may cause a stronger turn to the downside in the long term.

If the DXY fails to break the upper trendline, the impending wave to the downside is likely to occur. A trend reversal will take place and the price will trend to test the lower trend line of the fractal.

A large wave down by the US DXY will create great strength for assets priced against the USD, such as Bitcoin, Gold, Silver and other currencies such as the AUD.

Thanks.