DXY_Dollar Index_Going Lower?_Trend Analysis_Trade ideas
Simple higher/high, lower/low trend analysis on DXY shows a still intact downtrend. The daily chart is looking like a bottom, but I choose not to act on that opinion until price verifies. Until price closes above $94.14 I will assume downside for DXY.
DXY down means XXX/USD move up. USD/XXX move down.
Watching Daily, 4 and 8 hour charts for:
-Buy signals on EUR/USD and AUD/USD. Particularly AUD/USD looks poised for the best moves since it is verifying trend direction more than the rest of XXX/USD pairs.
-Sell signals on USD/CAD and USD/JPY.
Waiting for price to confirm downside by closing below moving averages or close above 94.14. Just wanted to point out the possibility of trend continuation. Markets go in the correct direction with as few traders as possible. I'm sure many got taken out in that wick above 94.00 on 10/06/2017.
Happy Trading!
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DXY down means XXX/USD move up. USD/XXX move down.
Watching Daily, 4 and 8 hour charts for:
-Buy signals on EUR/USD and AUD/USD. Particularly AUD/USD looks poised for the best moves since it is verifying trend direction more than the rest of XXX/USD pairs.
-Sell signals on USD/CAD and USD/JPY.
Waiting for price to confirm downside by closing below moving averages or close above 94.14. Just wanted to point out the possibility of trend continuation. Markets go in the correct direction with as few traders as possible. I'm sure many got taken out in that wick above 94.00 on 10/06/2017.
Happy Trading!
Like,Comment and Follow!
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Another chart I had build from long ago.
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High 80s achieved. Great trading and a prosperous 2017 came from this idea. It has been very profitable.
