1, The Gartley
2, Rising Wedge
3, Bearish RSI Divergence
Target is based on the bottom bound of the Ascending Channel
On the flip side, price can continue to the top bound of the Ascending Channel and then drop
As I said last week dollar break old intermediate Highs and make intermediate new Highs, now I am expecting that dollar make a little retracement to 97 and continue falling or just to continue falling until 96.20 0r 96.
For me is a strong sell for the confluence with order block, Fibo retracement, institutional price and Net short.
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I drew my chart on the greenback last week some time and thought I would share as it has significant impact on major pairs as well as the price of GOLD.
For the time being we are seeing bears gaining momentum.
Keep a close eye on the $
Draw up your analysis on the Dollar, Sterling and Euro, and Gold.
Are there emerging patterns? Lets look again on Sunday at...
2018 has been a very exciting year for the dollar thus far. Volatility has sky rocketed in the last couple of months, the FED has indicated a reduction in QE and Donald Trump has been tweeting away. In my view, I believe the dollar holds a more bearish outlook due to the following factors:
1. Rise in political tensions between China and US
Dollar Index Monthly - Structure speaks for itself. Big moves to the downside expected. This correlates well with global indices and Oil they are also indicating a big correction on larger timeframes technically.