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Long dxy. Hourly divergence big bounce

Long
TVC:DXY   U.S. Dollar Currency Index
Here dxy is showing another big divergence on the hourly charts.

It’s actually currently slightly above the weekly low set around March. So here would see some shorts taking profits and bargain hunters stepping in.

Falling wedge as well. We can expect a move up to either of the red resistance lines for day trade profits.
Trade closed manually: See below for comment

Comments

Great initial pump for some profit taking then a rip through the stop loss. Terrible news for dxy and really alternative currencies need exploring. But where? Crypto perhaps...
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