Que es la que hay mi gente?
Just a quick update on the Dollar Index, I am still long term bearish on the dollar and this has been perpetuated by the recent news regarding an imminent trade war. The US economy has not generated positive numbers ytd. Since my last analysis, we did see a push to the upside and I am expecting for that to continue until a right shoulder is clearly formed which would line up with the 618 fib in the previous analysis. I did try to keep this chart as clean as possible to better illustrate the areas I'm expecting for the price to work its way down toward. Here we see the completion of the Inverted HnS measured move, which also seems to be respecting the resistance line. DXY seems to be gearing up for the expected move to conclude the year on a bearish note. Will keep you posted on this analysis in weeks to come.
Happy Trading
Trap
Just a quick update on the Dollar Index, I am still long term bearish on the dollar and this has been perpetuated by the recent news regarding an imminent trade war. The US economy has not generated positive numbers ytd. Since my last analysis, we did see a push to the upside and I am expecting for that to continue until a right shoulder is clearly formed which would line up with the 618 fib in the previous analysis. I did try to keep this chart as clean as possible to better illustrate the areas I'm expecting for the price to work its way down toward. Here we see the completion of the Inverted HnS measured move, which also seems to be respecting the resistance line. DXY seems to be gearing up for the expected move to conclude the year on a bearish note. Will keep you posted on this analysis in weeks to come.
Happy Trading
Trap