DXY - The dollar shows bullish signals inside a falling wedge
It is always important to take a look at the Dollar Index. It gives us precious information about the strength of the dollar against all other currencies.
The USD is in a downtrend since january 2017. After many up and down we can indentify an ending falling wedge which will probably leading to a breakout of the resistance. The question is when ?
I think this will happen in the upcoming weeks. So regarding this, it is interesting to analyze each currency pair in dollar with this pattern setup in mind. The dollar is getting stronger and a bearish season is not excluded for AUDUSD, NZDUSD, EURUSD and GBPUSD. Otherwise, USDCAD and USDJPY could know some bullish wishes.
I will keep posting updates on DXY. Always useful in decision making.
The USD is in a downtrend since january 2017. After many up and down we can indentify an ending falling wedge which will probably leading to a breakout of the resistance. The question is when ?
I think this will happen in the upcoming weeks. So regarding this, it is interesting to analyze each currency pair in dollar with this pattern setup in mind. The dollar is getting stronger and a bearish season is not excluded for AUDUSD, NZDUSD, EURUSD and GBPUSD. Otherwise, USDCAD and USDJPY could know some bullish wishes.
I will keep posting updates on DXY. Always useful in decision making.
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WARNING ! The dollar could make a strong rebound very soon ! All crossed pairs under surveillance.
