DXY DX1! (USD INDEX) DOWNTREND
With USD News due at 5:30 AM Pacific Time for me, I expect this Minor Resistance Level (see chart annotation) to get some attention from Price Action.
Now, an uptrend retracement is likely to continue if Price Action closes above the Uptrend Anchor Break at 101.0460.
However, if price action: (1) stays below 100.9750 AND (2) closes below 100.7880 (Downtrend Anchor Break), we should anticipate the downtrend to continue.
If the DXY continues to fall, the EUR/USD will continue to rise. AND THAT'S GOOD "NEWS" FOR US!!! LOL
Now, an uptrend retracement is likely to continue if Price Action closes above the Uptrend Anchor Break at 101.0460.
However, if price action: (1) stays below 100.9750 AND (2) closes below 100.7880 (Downtrend Anchor Break), we should anticipate the downtrend to continue.
If the DXY continues to fall, the EUR/USD will continue to rise. AND THAT'S GOOD "NEWS" FOR US!!! LOL
Professor C. E. Ward
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