goodguy

Great setup for a drop in the US dollar index

Short
INDEX:DXY   US DOLLAR CURRENCY INDEX
3
I still think there is a good chance the US dollar has been forming a long term 5 wave triangle (ABCDE) before one last major drop. Although the RSI has gone to a new high, the price high at C has not yet been bettered leading to a potential negative reversal. This pattern indicated that price is weaker than the indicator and often leads to new lows. We also have a bear divergence more recently in the RSI where the RSI has been dropping while the price is rising. This week we also has a bearing engulfing candle. When all added together it looks potentially very bearish.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.