• DXY indeed tested the 21W EMA after closing below the 8W SMA.
• However, it was a successful test and DXY pumped back up.
• Nonetheless, RSI is reaching oversold territory and historical weekly resistance.
• What goes up must come down. Doubly so for such speedy ascents.
• Let's watch this and the next weekly closes.
• However, it was a successful test and DXY pumped back up.
• Nonetheless, RSI is reaching oversold territory and historical weekly resistance.
• What goes up must come down. Doubly so for such speedy ascents.
• Let's watch this and the next weekly closes.
Note
Great! We now just need DXY to close the weekly, either this or the next, below $95.8 to retest at least $95.2.Note
Well...that was fast...but let's watch the weekly close to evaluate the potential for more downward movement
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Related publications
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.