Dxy is a clear long imo. The chart is simple. Dxy broke and closed above the white trend line today. In fact, the rally in the past 2 days was because DXY bounced off the 20MA (MAs not seen in this diagram to keep it simple but you can add them on your own charts to confirm). The 100MA is about to cross above the 200 and the 50MA is looking to do so during august to create a golden cross. Dxy is targeting 95-96 range before heavy consolidation.
Fundamentally US is on the path to recovery. The hints are out there. Yellen said she wants a stronger dollar. Fed reps have consistently been talking about a robust economic recovery during the second half of the year. This was all push Dxy up (xxxusd pairs down).
Targets are represented by the horizontal lines. These targets are not for scalpers/day traders, more so for positional traders.
Note: this is not financial advice.
Fundamentally US is on the path to recovery. The hints are out there. Yellen said she wants a stronger dollar. Fed reps have consistently been talking about a robust economic recovery during the second half of the year. This was all push Dxy up (xxxusd pairs down).
Targets are represented by the horizontal lines. These targets are not for scalpers/day traders, more so for positional traders.
Note: this is not financial advice.
