DXY - USD DOLLAR LOOKING BEARISH
The Dollar Index has been on a run lately. Today we are looking at the Dollar Index (DXY) on the 10day (!) chart.
There are a few signs occuring that seem bearish to me and a indication of downside price action. How low? Nobody knows.
When the dollar will drop all other assets like risk assets and currency's will go up. This should result in a short lived (few months) relief rally.
After that, the most probably outcome, will be the money going back to the world reserve currency: the dollar and it can continue it upwards move.
For now, it seems like it needs to catch a break and get some air.
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There are a few signs occuring that seem bearish to me and a indication of downside price action. How low? Nobody knows.
When the dollar will drop all other assets like risk assets and currency's will go up. This should result in a short lived (few months) relief rally.
After that, the most probably outcome, will be the money going back to the world reserve currency: the dollar and it can continue it upwards move.
For now, it seems like it needs to catch a break and get some air.
<< Like the idea? Please like the post and follow for more >>
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