DXY US Dollar Index (Y20.P5.E1).Short term and Macro overview
Hi All,
Just did some trend lines, support and resistance along with structure and fib levels.
The US dollar index has downward pressure however its oversold dollar has reached a key fib 0.318 level which is likely to have a bounce in this week coming.
The stock markets are also over bought. Eg. SP500 all time high. Greed index high.
So the confluence with the other markets makes sense why there will be a bounce at this level.
The structure suggest to me this scenario.
Lets see how the bounce comes and its potential reject level to ascertain the next steps.
Cheers,
S.SAri
It could be an upward channel or downward channel or a bullflag.
The indicators on the larger time frames show downward pressure still there
Weekly indicators show they are looking for the bottom, note the MACD starting to show bullish div.
Previous Post
Just did some trend lines, support and resistance along with structure and fib levels.
The US dollar index has downward pressure however its oversold dollar has reached a key fib 0.318 level which is likely to have a bounce in this week coming.
The stock markets are also over bought. Eg. SP500 all time high. Greed index high.
So the confluence with the other markets makes sense why there will be a bounce at this level.
The structure suggest to me this scenario.
Lets see how the bounce comes and its potential reject level to ascertain the next steps.
Cheers,
S.SAri
It could be an upward channel or downward channel or a bullflag.
The indicators on the larger time frames show downward pressure still there
Weekly indicators show they are looking for the bottom, note the MACD starting to show bullish div.
Previous Post
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