On May 3rd, 2016, I published charts for DXY. I went long the US Dollar on this date.
The DXY has been marching up. If you looked at GBPUSD, this has been weak since May 3, 2016.
Even USDJPY has been strong since May 3rd.
Here is what I am watching: the uptrend impulse leg for USD has ended as of noon CDT May 9th, 2016.
I look now to $94.30 as a level that must be broken. This would mean the DXY has broken a long standing down-trend line.
Please move on to part 6 of this series where I will show you the trend-line which must be penetrated to the upside for DXY to continue higher.
I hope this has been helpful. May all of your trades go well. Don.
The DXY has been marching up. If you looked at GBPUSD, this has been weak since May 3, 2016.
Even USDJPY has been strong since May 3rd.
Here is what I am watching: the uptrend impulse leg for USD has ended as of noon CDT May 9th, 2016.
I look now to $94.30 as a level that must be broken. This would mean the DXY has broken a long standing down-trend line.
Please move on to part 6 of this series where I will show you the trend-line which must be penetrated to the upside for DXY to continue higher.
I hope this has been helpful. May all of your trades go well. Don.