DXY Where Are We Heading Next?
The dollar index is critical from a technical analysis point of view. We have two possible directions as always from the market to pick from. Our systems are bout to help us predict the right direction. But there certain cases where we see both directions as valid based on our systems this case is not any different.
Bullish Scenario
We recently had an A-B-C correction down which could occur at any phase but either way that doesn't change the fact that corrections are always followed by a pullback to the opposite direction from the direction of the correction pattern itself.
Bearish Scenario
We have a possible leading diagonal pattern formation suggesting that we will still continue moving in the downside direction. This means we have to make a new low in this case.
Which is Which, what's your take? Share Your Outlooks
Bullish Scenario
We recently had an A-B-C correction down which could occur at any phase but either way that doesn't change the fact that corrections are always followed by a pullback to the opposite direction from the direction of the correction pattern itself.
Bearish Scenario
We have a possible leading diagonal pattern formation suggesting that we will still continue moving in the downside direction. This means we have to make a new low in this case.
Which is Which, what's your take? Share Your Outlooks
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.