Hey tradomaniacs,
DXY (US-DOLLAR-INDEX) continues its breakout of the primary trendchannel and is now facing a very strong demand-zone❗️
According to my wave-count we should see another wave up which will initiate either the continuation of the globale uptrend or a just a correction of the current impulse.
Either a wave X, which would be a correction of the W-X-Y-Pattern or an A-B-C-pattern, which would correct the current impulse are both possible scenarios right now.
In both cases the US-DOLLAR would rise at least back to the previous support-zone.
The stockmarket is completly overheated and not reacting to any positive news and hopes anymore, such as stimulus and vaccine.
This is showing that bulls are suffering under a lack of power, thus an exthaustion would be the consequence and so a rising (retracing) US-DOLLAR.
Previous news about a 12-Month-exetenstion of the ECB`s Bond-Buying could put EURO under pressure aswell.
Let`s see what happens with the upcoming Non-Farm-Payrolls.👌
DXY (US-DOLLAR-INDEX) continues its breakout of the primary trendchannel and is now facing a very strong demand-zone❗️
According to my wave-count we should see another wave up which will initiate either the continuation of the globale uptrend or a just a correction of the current impulse.
Either a wave X, which would be a correction of the W-X-Y-Pattern or an A-B-C-pattern, which would correct the current impulse are both possible scenarios right now.
In both cases the US-DOLLAR would rise at least back to the previous support-zone.
The stockmarket is completly overheated and not reacting to any positive news and hopes anymore, such as stimulus and vaccine.
This is showing that bulls are suffering under a lack of power, thus an exthaustion would be the consequence and so a rising (retracing) US-DOLLAR.
Previous news about a 12-Month-exetenstion of the ECB`s Bond-Buying could put EURO under pressure aswell.
Let`s see what happens with the upcoming Non-Farm-Payrolls.👌