DXY has now arrived at its Long term CUP pattern line and needs to make a choice. Is it going ot show stregth nd push bck up for a while OR will it fall through ?
On the international stage, Fundamentally, DXY is under pressure as the $ is dropped by a growing number of countries, for international trade settlements. This used to be a MAJOR use of the $ and earnt the banks a lot of money. This is Going.
On the Home Front, The political games in the USA may also have an impact
Technicaly, DXY is in a position to push higher. Weekly and Daily MACD & RSI have Room to move higher. and PA is in a good position, if it pushes higher here, to make a Strong Double Bottom
Should PA drop through the CUP, then we could continue to reach the 98 mark in time. HOWEVER, ever since 1971, when DXY began creating these Cups, the Cup line has not been broken since 1985. PA is also sitting n a strong line of support.
I think it is worth watching DXY this week...It may well improve
On the international stage, Fundamentally, DXY is under pressure as the $ is dropped by a growing number of countries, for international trade settlements. This used to be a MAJOR use of the $ and earnt the banks a lot of money. This is Going.
On the Home Front, The political games in the USA may also have an impact
Technicaly, DXY is in a position to push higher. Weekly and Daily MACD & RSI have Room to move higher. and PA is in a good position, if it pushes higher here, to make a Strong Double Bottom
Should PA drop through the CUP, then we could continue to reach the 98 mark in time. HOWEVER, ever since 1971, when DXY began creating these Cups, the Cup line has not been broken since 1985. PA is also sitting n a strong line of support.
I think it is worth watching DXY this week...It may well improve