DXY is sitting right on a trend line which began in 2011.
Also it is at the bottom line of the correction channel on hourly chart.
It is quite good moment for the instrument to turn around.
DXY does not show willingness to go down easily, we see multiple strong rejections from the support line. The behavior reminds situation in Mar'13, Apr'18 when new multi-month uptrends started.
So it will be either wave C of corrective wave 4 with target ~95, or the beginning of wave 3 of a huge uptrend.
Last few weeks we have seen so many good news, so I believe the tactics buy the rumors, sell the news should definitely take place now. Stock market should start tanking very soon if not already started.
Also it is at the bottom line of the correction channel on hourly chart.
It is quite good moment for the instrument to turn around.
DXY does not show willingness to go down easily, we see multiple strong rejections from the support line. The behavior reminds situation in Mar'13, Apr'18 when new multi-month uptrends started.
So it will be either wave C of corrective wave 4 with target ~95, or the beginning of wave 3 of a huge uptrend.
Last few weeks we have seen so many good news, so I believe the tactics buy the rumors, sell the news should definitely take place now. Stock market should start tanking very soon if not already started.
