ridethepig | DXY Market Commentary 2019.12.18
Updated
A timely update to the Dollar chart in time for the NY session, with most of G10 FX trading at the bottom of the short term range markets are preparing for the final flush in USD before killing the year off on the FX board.
Lets start by reviewing our long-term map:
Here we are tracking the Monthly chart in Dollar from an Elliot Wave perspective; after 15 years of the previous bullish USD cycle we are reaching the end of the road.
For those tracking the USD devaluation you will know we are trading the final leg in the 5 wave sequence:
On the technical chart the channel support is holding on by a thread:
Best of luck all those looking for cheaper entry levels in the Dollar short leg, uncertainty around US growth is not going away. Even if the impeachment expectations fall we should see USD coming under significant pressure.
Thanks for keeping the support coming with likes, comments, questions and etc! And as usual jump into the conversations in the comments with your views.
Lets start by reviewing our long-term map:
Here we are tracking the Monthly chart in Dollar from an Elliot Wave perspective; after 15 years of the previous bullish USD cycle we are reaching the end of the road.
For those tracking the USD devaluation you will know we are trading the final leg in the 5 wave sequence:
On the technical chart the channel support is holding on by a thread:
Best of luck all those looking for cheaper entry levels in the Dollar short leg, uncertainty around US growth is not going away. Even if the impeachment expectations fall we should see USD coming under significant pressure.
Thanks for keeping the support coming with likes, comments, questions and etc! And as usual jump into the conversations in the comments with your views.
Note
Eyes on the final breakdown here to complete the 96 year-end target
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