DXY
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The US Dollar has been respecting daily trendline support for almost 12 months.
One would imagine that weakness in the dollar is imminent. I would say yes but not that fast as people would think.
Using supply and demand analysis, price has been creating demand over the past year. Price has been selling and retracing near to around the same price for months. This is because large institutions and big banks are getting more sell orders in. When they complete sell orders, price moves away from an area, however, they need to get more sell orders in so they push back price up in order to get more in. So you can see this happening repeatedly.
Price has now gotten more sell orders to fall once again. On a macroeconomic standpoint, global economies have been showing weakness and the dollar has now fallen into this viewpoint.
This weakness will be seen greatly after the Fed speaks in June, there should be a rate hike.
This will definitely be a shaker for prices in USD.
Apply proper risk management when trading as past profits does not guarantee future gains.
Until we meet again beloved!
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The US Dollar has been respecting daily trendline support for almost 12 months.
One would imagine that weakness in the dollar is imminent. I would say yes but not that fast as people would think.
Using supply and demand analysis, price has been creating demand over the past year. Price has been selling and retracing near to around the same price for months. This is because large institutions and big banks are getting more sell orders in. When they complete sell orders, price moves away from an area, however, they need to get more sell orders in so they push back price up in order to get more in. So you can see this happening repeatedly.
Price has now gotten more sell orders to fall once again. On a macroeconomic standpoint, global economies have been showing weakness and the dollar has now fallen into this viewpoint.
This weakness will be seen greatly after the Fed speaks in June, there should be a rate hike.
This will definitely be a shaker for prices in USD.
Apply proper risk management when trading as past profits does not guarantee future gains.
Until we meet again beloved!