last view I posted on DXY was on May 15th this year (red dot).
On March 23rd DXY unfolded a first bearish impulse that lasted until March 27th due to FED unleashing QE infinity. On May 25th DXY unfolded a second bearish impulse until June 10th. On July 20th DXY unfolded a third bearish impulse until Sept.1st.
The moves are very similar but their progression is the following: 1st move: -4.53% 2nd move: -5.18% 3rd move: -6.20%
DXY attempted a pullback from 5 (yellow) but it was stopped at Y (red) and pushed back down again towards 91.746.
Outlook: bearish pressure still on but the possibility of 2nd attempt for a pullback cannot yet be excluded.
What do you think?
Please share your views and comments below.
Thank you for your support and for sharing your ideas.
Cozzamara
Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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So we are assuming that within a few days the DXY will return to the top?
cozzamara
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Thank you for your comment @TraderRadeau 🙏 It will definitely look for a top sometime again but at the moment I see a lot of bearish pressure on DXY pushing it down. However, as I stated above, a pullback cannot be excluded👍 What is you view on it? 🤔🙂
POSINEXA
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I agree with you, it looks like DXY will experience consolidation in the future, according to my analysis of gold and others, it will be corrected first. Thank you for your analysis, thumbs up 👍🏽