King dollar is about to pee his pants. Impulsive move counted on the downside basically right after it was announced that congress printed 1.1 trillion for the infrastructure. Currently it costs $1.20 to pay for $1 of goods and services. This means that whatever money printing we do now is actually a negative. We just finished a little correction up...
DXY FREE UPDATE - Yello! Let's make everything crystal clear and understand a bit better what is going on in the market right now. Let's talk about the Dollar Index, ladies and gentlemen This index (DXY) basically measures the dollar's strength against all other currencies (FIAT). And to understand the context, please refresh your mind and read our update...
DXY Looks like it's in a bearish wedge formation that formed on June 18th and this is inside of another larger bearish wedge structure with a base around 89 which is where I think the ultimate target is before the next move up or down in DXY can be determined. This is a medium-long range HTF forecast - not to be used for shorter term trades. In the shorter term...
Update, this is why the dollar index is selling off a bit which is giving oil and stocks a nice little push here. Which also coincides with SP500 bouncing off 2800 area. But I think this will be short lived and once the DXY breaks out of the smaller H4 triangle the markets will probably sell off.
DXY looking good here A continuation up is likely to happen