The DXY has shown a micro Trend within the bigger picture by setting up a series of LL & LH for the past few weeks. It completely ignored the previous break of trend and continued heading down but it has not broken previous September low as of yet.
My sentiment tool tells me the DXY is finally gaining some volatility and we should see an increase in movement in the coming weeks. My current sentiment is bullish BUT i wouldn't be surprised if we see a new low forming before the 1st quarter ends, Unfortunately since the year is just starting i can't efficiently make such a long term prediction (blame it on the holidays).
The Technicals:
Long term bearish trendlines being respected, Supply zones being created, Demand zones being obliterated.
Sound bearish sentiment.
The indicators show medium term Bullish sentiment with the RSI being just off the oversold territory and the Momentum being on a limbo while showing a bullish tendency on the lower frames.
My sentiment tool tells me the DXY is finally gaining some volatility and we should see an increase in movement in the coming weeks. My current sentiment is bullish BUT i wouldn't be surprised if we see a new low forming before the 1st quarter ends, Unfortunately since the year is just starting i can't efficiently make such a long term prediction (blame it on the holidays).
The Technicals:
Long term bearish trendlines being respected, Supply zones being created, Demand zones being obliterated.
Sound bearish sentiment.
The indicators show medium term Bullish sentiment with the RSI being just off the oversold territory and the Momentum being on a limbo while showing a bullish tendency on the lower frames.