With DXY sitting at resistance, I don’t see room for any further near term gains in Dollar. More importantly we are approaching key value levels for sellers from the last Q and large corporates have been spotted on the offer in USD. I have made the Dollar chart available and will publish it with al the more pleasure, since it is particularly interesting as we are sitting in the age of the Aggressive USD devaluation. So here is the chart:
Sellers are not afraid of the flank attack because strong macro forces are in play in the monthly chart. The play is centralised; buyers must begin to be felt and in addition the prospect of a breakout down is driving the desperation of the exchange:
This illustrates nicely the struggle that USD buyers face. Motto: first position, then defend, and finally breakdown. Markets starting to find their footing for 2020 after clearing NFP. Focus this week shifting to a round of important US macro prints, a key week for those trading USD pairs.
Good luck all those on the sell side in USD, major moves in play and important chart updates coming in the next few sessions. I will have live coverage as usual in the Telegram .
Thanks for keeping your support coming with likes, comments, questions, charts and etc!
Sellers are not afraid of the flank attack because strong macro forces are in play in the monthly chart. The play is centralised; buyers must begin to be felt and in addition the prospect of a breakout down is driving the desperation of the exchange:
This illustrates nicely the struggle that USD buyers face. Motto: first position, then defend, and finally breakdown. Markets starting to find their footing for 2020 after clearing NFP. Focus this week shifting to a round of important US macro prints, a key week for those trading USD pairs.
Good luck all those on the sell side in USD, major moves in play and important chart updates coming in the next few sessions. I will have live coverage as usual in the Telegram .
Thanks for keeping your support coming with likes, comments, questions, charts and etc!
Commento:
An important side note here coming from some questions on the length of the 3rd wave here. The confusion is mostly coming from the complex double zigzag here:
