USDX retrace below 100 before next impulse higher
- Looking for temporary Dollar weakness in the form of a retrace to below 100.
- Followed by next impulse leg up on negative GDP-news
- Fundamentally a US recession is looming
- US slump will translate to a cooling world-economy
- This will trigger risk off and with it Dollar strength
- Volume profile shows strength in upmove
- After the high volume is falling on the way down
- In short: drop below 100 followed by a push above 106
- Followed by next impulse leg up on negative GDP-news
- Fundamentally a US recession is looming
- US slump will translate to a cooling world-economy
- This will trigger risk off and with it Dollar strength
- Volume profile shows strength in upmove
- After the high volume is falling on the way down
- In short: drop below 100 followed by a push above 106
Sultan of Swing