USD dominance will likely continue through the remainder of July. In the 1 week time frame, the red and blue lines of the Phoenix Ascending (PA) indicator are rising as is the momentum (Energy, grey shaded area). Given the levels of the blue and red lines, we will likely see the DSX push up to around $110, which is between the upper aqua and upper red Bad Ass Bollinger Band (BA BB). The fixed range volume indicator (FRVI) suggests an ease of upward movement for prices greater than $105.
Not financial advice.
Not financial advice.
Comment:
The 1 day and 3 day time frames tells a story similar to that told by the 1 week although it is entirely possible that we observe some choppy price action on the way up. The FRVI shows strong support around $105.
Comment:
DXY in the 1 day time frame. The red and blue lines of the PA indicator may oscillate between 70 and 90 as they did in the yellow shaded area. This often occurs when an asset is pumping.
Comment:
It's likely that the DXY price decreases to the midpoint of the regression channel then increases toward the $110 target.
Comment:
The DXY reaction has been a little deeper than expected but, otherwise, it is playing out as predicted.
