ARYK08

DXY Monthly Weakness

Short
ARYK08 Updated   
TVC:DXY   U.S. Dollar Index
6
The light blue lines indicate a crossover of K below 46.4780. in the history of the dollar after K has crossed down through that line (has happened 13 times) DXY went lower the following months 10/13 times or 77%. It downtrended an average of 353 days after crossing down through this level and DXY went down an average of 10.55%. RSI showed a lower high while price made a higher high which is a significant sign of weakness. Price is coming down from resistance at 101.8 which is 61.8% (fib number) retracement of the 2001 high and 2008 low. During the previous high in 2015 ADX was reading 42, during the higher high in December 2016 - January 2017 the ADX was reading 31, another sign of weakness in the uptrend.
Comment:
The line in stochastics doesnt show on this chart but its 46.478
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.