A dollar surprise can still hit. There is a last line of defence for the Dollar.
Price has come into a structure area, either a double-bottom or triple bottom, and the 3D ATR line is just below price.
Some say that the US Dollar is bound to crash. That's not necessarily true. Read up on 'Dollar Smile Theory'.
Disclaimer: This is not advice or...
Recently we had a break out of the descending wedge after getting a higher low. The breakout failed to break a significant level (94.6) level which is why this was a corrective break set up. As it was a corrective break, we saw a deeper complex correction.
Price is currently testing the higher significant low (indicated on the chart), which...
Watch the key ZONE. if the price drops and finds support then we will get a bounce and continuation of bullish momentum.
If the price closes below and retests the Zone we will drop lower testing lower levels.
US Dollar Smile Theory in Forex indicates that US Dollar can strengthen both in good & bad market conditions.
There are times when you get to the market expecting to see the US dollar falling but to your surprise its making higher highs, showing no signs of slowing down.
Then you wonder, Why?
This was explained using a Dollar Smile Theory.
US DOLLAR FUNDAMENTAL FORECAST: NEUTRAL
USD gives back post-CPI gains into the weekend
Downbeat retail sales fogs Fed taper talk expectations
Upcoming FOMC may provide next shift for US Dollar
A much hotter-than-expected consumer price inflation (CPI) print roiled markets and saw a wave of strength carry the Greenback higher last week. However, a...
DXY on the 1H time-frame.
1. Dollar index is running stronger by creating the higher low and higher high.
2. The resistance zone are 90.720 to 90.890
3. The inflation rate will be effect to breakout the resistance zone.
4h divergence never messes with you. 4h divergence is a real play for the gainers. Lock in your positions the moment this market opens up on monday
A double top just formed as well on 4h and an overbought rsi on the 70 also showed up
What else do you want?
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