DXY - 1/6/19Price has been on an uptrend since January 2019 giving us a series of Higher Highs and Higher Lows, shown clearly on the Daily TimeFrame. Price has also been rejecting to push higher than 98.00 since April 2019. I have highlighted the MACD divergence seen on the Daily and 4HR indicating the possibility of a bearish run.
Moving to the 1HR, price is sitting on the trend-line and a strong support area.
The above is based solely on Technical Analysis.
The strong bearish candle resulted from a news release on Friday, I would wait to see what happens and how price moves and reacts at market open.
However, my overall outlook on the DXY is bearish.
