kjfxmonk

kjfxmonk

Dixie remains above its upward sloping trendline, with room to run to 98. 97 continues to be the inflection point as it has been for several months now, but the trend is up, and remember, it has been up since February. Trends don't break easily without fundamental factors acting counter to the trend, so trade the trend, the trend is your friend. 1.1180 in $EURUSD...

kjfxmonk

Dixie remains stubbornly in its almost November-long bullish channel, having respected the lower of two upward sloping trendlines. Of course, with the G20 going on over the weekend, there is no telling where this opens on Monday, but the trend is up, and the trend is your friend. #DXY #Forex #EURUSD

kjfxmonk

After Powell's speechifying yesterday in which the supposedly cowered Fed chairman appeared to indicate that there would be fewer rate hikes ahead, the market overshot, IMO, and the US Dollar crapped the bed rather spectacularly. But it is still in an up-trend, and the up trend has was and continues to be respected.

kjfxmonk

Haven't posted about Dixie recently, but it's sort of playing out as expected, though it may be running out of steam, depending on what happens to $EURUSD in the coming week or so. But for now... wheeeee!

kjfxmonk

That may have been it for Dixie, the retrace that wasn't that deep. I now expect to hit 98, and 1.1180 in $EURUSD. 1.1350 was already touched in the common currency, so the next step is down before a big up-move after Thanksgiving and into Christmas. A Euro Santa rally, if you will. Cheers, and good luck. #FOREX

kjfxmonk

Dixie is sorta consolidating along with $EURUSD dancing around the 1.13 figure. I expect it to visit 96.45 which is a minor .618 of the of September-November run, before getting a bit higher. 98 area is still the cap, though, along with 1.1180 in the common currency. #DXY #USDOLLAR #FOREX

kjfxmonk

Dixie broke out overnight in European trading thanks to the common currency's 80 pip drop to new 2018 lows. There is more room for the #Dollar to run, but I expect it to stall around 97.88 which is the .618 of the entire 2017-2018 drop. This would coincide roughly with $EURUSD around 1.1190 a figure that I expect to be touched early this week, before a major...

kjfxmonk

After touching an up-trendline and previous support, Dixie rebounded sharply and now on the tail of somewhat hawkish #FOMC language along with bad economic news out of Europe, it looks to retake 97 and go higher. $EURUSD back down to 1.13 and should crack it this time, within the next few sessions. #FOREX

kjfxmonk

The CW on the Dixie is that its run-up is over and done with and that a new cycle of consolidation has begun Why? Are we not expecting another rate hike in December? Is there some reason to believe that the Europeans will get their house in order? The only thing working for me is my Elliott count which is usually wrong anyway, telling me that it's time for the...

kjfxmonk

Dixie is a taking a breather from falling today, along with the rest of the market. I still see 93 as a valid target in (C) in the coming weeks, which should coincide with 1.1950 or thereabouts in #EURUSD, however, if the Euro closes below 1.1550 today progress may halt and even reverse in the short term. 94.40 is intraday resistance in #DXY #FOREX

kjfxmonk

Dixie not doing much today as market trading is *thinnish* in the US due to a holiday which celebrates the life of a very bad man. Below 96.12 suggests a turn to the downside, though it would be nice to see #DXY hit that level once more, which would probably coincide with #EURUSD 1.1430-40 a point of exhaustion for the pair, and a nice setup level for longs. #FOREX

kjfxmonk

Dixie is currently sitting right at the 618 ret from the August high to September low, and coincidentally #EURUSD is sitting right above 1.15 support AND its own 618 from the August low to the September high (funny how that works). Feels like now or never for the Euro to rollover and clear some stops. #FOREX #USDOLLAR #DXY

kjfxmonk

Since my last Dixie chart ended up being off by 100 points or so, I'm back with a new one, because tomorrow is always a new day. So looking at resistance in #DXY I see a fifty back and 618 of the August highs to September lows are in sight. That should put a hold on the #USD this week.

kjfxmonk

Dixie is playing out beautifully today, retracing back to the 94.30 area of former support. Expect a deeper plunge to 93.20s from here, but FOMC next week muddles the picture somewhat. Also, trump is an asshole. #Forex #DXY #EURUSD

kjfxmonk

The #DXY broke through the 94.30-40 support area, and is currently retracing some of its LON/NY move. Expect further break down from former support, down to 92.20 area. 1.18+ coming up in $EURUSD with 1.1720 area provides immediate support. #FOREX

kjfxmonk

Not much happening with Dixie as no big news or data releases on tap this week augur range trading. Of course, the China trade war is the elephant in the room, and any news out of Beijing could spike the dollar very quickly. For now, it is a scalper's paradise, if you like your pips 10-20 at a time. 95 is major resistance. #EURUSD #FOREX

kjfxmonk

Dixie responded beautifully to 94.40 area support, bouncing straight into resistance in the 94.90 area, which is the fifty back of the most recent down move. Next resistance at 95.10 with major resistance around 95.70 but I expect to bounce around here for a bit. Probably retesting support early next week with $EURUSD retesting 1.1720

kjfxmonk

The Dixie crapped the bed after US data and Draghi's non-speech, but somewhat major support at 94.43 held. 94.90-95 area is now resistance, I assume we're going to bounce around here for a few days. #DXY #FOREX $EURUSD