Another 48h - DXY Under Pressure At The Beginning Of The Week

2024/11/18
Another 48h - DXY Under Pressure At The Beginning Of The Week
“vital outbreak (during the last 7 weeks) - but everything has its limits!
is it going down this week? if yes, how deep? and/or until when?”


What is happening with Trump in the USA is more than just a change of government: it is an absolute victory that has rarely been seen in the history of the USA! And which is given far too little appreciation! The consequences will be grave and severe; that's what Trump voters wanted, that's what the majority of the USA wanted. What consequences does it have for price action? That remains to be seen for now! We all run our open long 4XSetUps - and I continue to comment on the DXY daily. In the first quarter, after more or less 100 days, we can perhaps assess where the journey is headed? With Trump? With the price action? Of course I don't know either! But I know one thing - I'm looking forward to a birthday party - and the birthday boy is the US President! And we are celebrating the USA! And I hope, no, I assume that we, all those who mean well with the USA, who mean well with Trump, will all contribute, me too, that we will leave the White House in 4 years, after the party, better than we got from the Biden and Harris administration! But I don't want to get too euphoric - it remains to be seen where the journey will take us? And that's because of Trump and his team! "Perhaps the most serious mistake is to believe that Trump's upcoming presidency will be a kind of repeat of his first presidency between 2016 and 2020 - back then, "The Donald" surrounded himself with traditional politicians. His new presidency, on the other hand, is likely to be much more radical. The inner circle now consists of people like Musk who want to implement a vision, they want to completely reposition the USA," said an online broker analyst friend of mine today, whose opinion I always listen up. And I would just like to add: “What consequences does this have for price action?” I continue to try to answer that every day, day by day, like until that...

“It is much easier to put existing resources to better use, than to develop resources where they do not exist.”
George Soros

• Will We Fall Back In The W Trend Reversal Formation?
  
• Will We Defeat The Old Annual High Of 2024?
  
• Are We Heading To Annual Highs Of 2023?
  

These are the 3 most important questions regarding price action in DXY. And which we should keep in mind - and let it be answered daily in the form of the price action, to learn may be day by day (not) something new.


107.348 : 2023/10/03 - Annual Year High 2023
106.517 : 2024/04/16 - Annual Year High 2024
106.490 : 2024/05/01 - 1st False Breakout To New High
106.207 : 2024/11/18 - last price action
106,130 : 2024/06/26 - 2nd False Breakout To New High
104.799 : 2024/07/30 - High Before W Trend Reversal Formation
In addition to the annual highs in 2023 and 2024, and/or even the 3-wave breakout from the w trend reversal formation, two downward trend lines from the annual high in 2024 are also interesting - the existence of which I don't want to withhold from you. Because the price action above proves the fundamentally positive bullish upward trend in the DXY . While a cushioning around the two downward trend lines from the bears, between 106.5 and/or even 106 points, in retrospect we would have to speak of a short-term false breakout of new annual highs in 2024.

Today's price action looks just as bearish as negative in the short term this week - maybe next week too - as it looks positive and bullish in the medium term! Why? Look at the price action of the last 48 hours - first the last high, annual high 2024, from Thursday. And/Or also the following daily highs from Thursday, Friday, and/or then also today. What do you notice? Correct! The highs are all getting lower - which basically indicates that the upward trend is easing. Maybe the bulls are running out of strength - and now the bears are taking over the terrain for tomorrow? for this week? for next week? But that shouldn't be a problem in principle! Because until the weekend we had a rising DXY for 7 weeks - 35 trading days. And only 10 days were red bearish. However, 106 points and/or 105 points are psychological marks that could but do not have to serve as support zones. No - they could also accelerate the downward trend. Importantly, at least in my opinion, based on the technical analysis of the last few weeks, the 2 downward trends from the 2nd quarter of this year 2024 are crucial. And/Or also the big w trend reversal formation, from the summer of 2024. The two downward trend lines this week are at more or less 106.1 points and/or also 105.2 points. A fall on, and/or even below, can be defined as a short-term countermovement, or a subordinate bearish trend, within an overarching upward trend. The decisive factor is the upper trend line of the w trend reversal formation, at 104,447 points. Any price action above this confirms the fundamentally positive bullish upward trend of the DXY . Which I still assume today, this week, next week.


With best wishes
and with good intentions!
Aaron



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