Bouncing Off the Ropes

23 août 2020

DXY bounced off of a very long term trend line established back in 2011, also closing above the psychological 93 level here shown in the weekly chart. With traders returning from summer holidays (volatility) and going into the election home straight, I'm bullish in the short term at least. I would look for a long to 94.6 / 95 area (March low) before reassessing the trade.

29 août 2020

Note

After Jackson Hole DXY took a turn lower and is currently on the edge of the long term trendline support. I would consider my idea invalid if it breaks below. Stop at 91.4

24 sept. 2020

Trade fermée: cible de profit atteinte

After a long wait, the move upwards finally happened. DXY hit the 94.6 area intraday and cooled off. Should consolidate before the next move.