מדד מטבע דולר אמריקאימעודכן DXY harmonic butterfly 19/11/12
We may now be in the final phase of the harmonic butterfly, which is a retracement to the 0.5 - 0.618 fib area of CD for an initial motive down wave.
Since my last DXY idea, direction was as expected but more volatility than predicted. We made a higher low then continued on the ping the 0.5 retracement of the macro wave. Consequently, this led to concluding the harmonic butterfly shown.
We have a potential double top pending on Monday's closure (on a daily timeframe, would be TONIGHT'S closure), with near term confirmation on a breakdown of 95.5. The traditional target for this pattern is the 1.618 of the CD wave. If this harmonic were to be validated by a breakdown, we should expect an impulse move down to at least the 0.382 area, if not the 0.5 - 0.618.
As noted in the top right corner, this time of the year typically brings a bearish stance on the dollar. The forecast that I have mapped out takes into account dollar seasonality, however assumes that the trend stays bearish for the entirety of next year. It is merely a technical playout of the "perfect scenario".
This is not financial advice and always DYOR.
Since my last DXY idea, direction was as expected but more volatility than predicted. We made a higher low then continued on the ping the 0.5 retracement of the macro wave. Consequently, this led to concluding the harmonic butterfly shown.
We have a potential double top pending on Monday's closure (on a daily timeframe, would be TONIGHT'S closure), with near term confirmation on a breakdown of 95.5. The traditional target for this pattern is the 1.618 of the CD wave. If this harmonic were to be validated by a breakdown, we should expect an impulse move down to at least the 0.382 area, if not the 0.5 - 0.618.
As noted in the top right corner, this time of the year typically brings a bearish stance on the dollar. The forecast that I have mapped out takes into account dollar seasonality, however assumes that the trend stays bearish for the entirety of next year. It is merely a technical playout of the "perfect scenario".
This is not financial advice and always DYOR.
הערה
A daily timeframe perspective:
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.