DXY Clearly Bullish beware if taking Shorts

10 בנוב׳ 2018

The USD has been on steroids lately and here is why. Fundamentally it doesn't make sense with all these trade wars going on and all this non-sense. However in this messy environment there is a bit of order. As a harmonic trader I use patterns to give me a better sense of where price is going. We have put in a Bearish Cypher on DXY. We have broken and closed above the B point which validates the pattern according to harmonic standards. I look for price to continue its rally to 101! Then we shall wait and see if the pattern giives us a trend continuation bounce off the 38.2% or the 61.8% fibonacci retracemtns or if we just tumble back down and start a bear run. Therefore I will be longing USD/JPY and selling GBPUSD and EURUSD, they are primed to make lower lows if the DXY keeps pumping! Happy trading!