Some interesting analysis has shown itself through Price Action and the added help from the indicator Relative Strength Index!!
I solely base my analysis off of price action, then add indicators later to solidify any bias!
What I am witnessing is called a Divergence where Price action, in this case, is giving us Higher Highs where our RSI indicator is giving us Lower Highs!!
This point of contention leads me to believe that the DXY Bears could be looking to step in and bring the house down on DXY!
*Of course we all know, Markets Do What They Want but lets keep an eye out for this!!
-Fundamentally, USD is swamped with news events from House sales and Consumer Confidence on Tuesday (26th) to Unemployment Claims and GDP on Thursday (28th) along with Powell speaking and Core PCE Price Index Friday (29th)
I solely base my analysis off of price action, then add indicators later to solidify any bias!
What I am witnessing is called a Divergence where Price action, in this case, is giving us Higher Highs where our RSI indicator is giving us Lower Highs!!
This point of contention leads me to believe that the DXY Bears could be looking to step in and bring the house down on DXY!
*Of course we all know, Markets Do What They Want but lets keep an eye out for this!!
-Fundamentally, USD is swamped with news events from House sales and Consumer Confidence on Tuesday (26th) to Unemployment Claims and GDP on Thursday (28th) along with Powell speaking and Core PCE Price Index Friday (29th)
Note
DXY is creating new highs! Looks like USD got its strength after all! Be sure to check out my related USD Trade Ideas!
Note
And just like that, price is back down under our rising divergence!! Lets see what comes with our news events @ 9am CST!Note
Consumer Confidence: NegativeHouse Sales: Negative
Note
Durable Goods Sales: PositiveNote
Price has found its way back down to the Rising Divergence! Will the BULLS use this as a push off point or will the BEARS take control?!Note
Price broke back down underneath the Rising Divergence!! Opportunity for BEARS to take CONTROL!
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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.