DXY EXPECTED TO CONTINUE SHORT AFTER RETRACEMENT
Though most do not trade the DXY directly, there is a 90% negative correlation of DXY and the following: AUDUSD, GBPUSD, EURUSD. A 90% positive correlation with USDCHF, USDJPY... The trend has completed the requirements for the trend reversal to be considered official. NEWS and other Fundementals could shift these ideas. We are looking for a confirmation or bearish engulfing at resistance for the following timeframes: 30m, 1h, 2h, 4h.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.