DXY: The Ship is Slowly Sinking

2022年11月1日

For the time being, I think the DXY is bound to go lower.

• The RSI support line since December 2020 has broken
  
• Bearish divergence on the weekly (from May to September 2022)
  
• Consecutive lower highs
  
• Parabolic trend is broken
  

At this point, the only way I'd be bullish on the DXY is if it makes a new high above 114.77.

2022年11月2日

註釋

On the hourly chart, DXY broke down from the rising wedge.

2022年11月2日

註釋

Quick update after today's movement. DXY dumped and recovered quickly due to today's FOMC announcement. However, DXY still has a few major resistances that it would need to break in order for it to be bullish.

Both the upper trend line AND the shaded red box need to be broken through for me to change my mind about my idea. Until that happens, I remain bearish.

2022年11月4日

註釋

Another bearish day for the DXY. strong rejection at the top of the channel. Retracement down to the bottom of the channel is possible.

2022年11月4日

註釋

Oh, and by the way, look at that weekly candle for DXY. Looks bearish to me...

2022年11月10日

註釋

20-week MA is breaking down. Looks pretty bearish to me.

2022年11月10日

註釋

Flag pattern on the daily also starting to break down.

2022年11月10日

註釋

Support levels to watch for DXY.