Short into the NEW YEAR - US DXY
As you can see the US DXY is finding resistance on the upper trendline of the fractal, the Stochastic RSI approaching a bearish reversal.
However, the DXY may show strength and attempt to break the fractal in the short term, so beware. Though an extended break from the fractal may cause a stronger turn to the downside in the long term.
If the DXY fails to break the upper trendline, the impending wave to the downside is likely to occur. A trend reversal will take place and the price will trend to test the lower trend line of the fractal.
A large wave down by the US DXY will create great strength for assets priced against the USD, such as Bitcoin, Gold, Silver and other currencies such as the AUD.
Thanks.
However, the DXY may show strength and attempt to break the fractal in the short term, so beware. Though an extended break from the fractal may cause a stronger turn to the downside in the long term.
If the DXY fails to break the upper trendline, the impending wave to the downside is likely to occur. A trend reversal will take place and the price will trend to test the lower trend line of the fractal.
A large wave down by the US DXY will create great strength for assets priced against the USD, such as Bitcoin, Gold, Silver and other currencies such as the AUD.
Thanks.
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