DXY: Dollar bulls building pin bars ahead of next rally
DXY: Dollar Index
DXY is up and down like Harvey Weinstein's pants.
But those series of pin bars forming over the course of this
week shows serious support for the dollar at 94.41.
This whipsaw can persist a little longer and cause havoc with
positions (as in Gold, and across the pairs) and it's why it
helps to keep an eye on this chart if trading any pair against USD.
DXY continues to unwind the overbought conditions of last
week by moving sideways between 94.82 short term
resistance and 94.41 short term support...but those pin bars
are showing that ulimately the break will be to the upside.
Intend to keep accumulating Dollar longs on each test of
94.41 and increase once 94.90 has been broken on next
minor pull-back towards 94.80.
DXY is up and down like Harvey Weinstein's pants.
But those series of pin bars forming over the course of this
week shows serious support for the dollar at 94.41.
This whipsaw can persist a little longer and cause havoc with
positions (as in Gold, and across the pairs) and it's why it
helps to keep an eye on this chart if trading any pair against USD.
DXY continues to unwind the overbought conditions of last
week by moving sideways between 94.82 short term
resistance and 94.41 short term support...but those pin bars
are showing that ulimately the break will be to the upside.
Intend to keep accumulating Dollar longs on each test of
94.41 and increase once 94.90 has been broken on next
minor pull-back towards 94.80.
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