DOLLAR STILL ABOVE BOTH SUPPORT LINES|NO CORPSE FOR THE GRAVE?

5 thg 8, 2020

Well, as it is clear from the name of the post, DXY of the Dollar index is still above both of the meaningful long term support lines.

So those of the bears, who have already dug a fresh grave and prepared their shovels, might wanna hold their horses, or shovels, as the patient is still more alive than dead.

Though it is true that the dollar fell though all the latest support lines like a crowbar through you-know-what, the big support lines are still ahead.

For the trend to change though, the latest downward diagonal resistance must be broken first, so the bulls need to put that champagne bottle aside too.

Anyhow, a correction is overdue, as the market is tired of the free-fall. Let's see where we end up in the Autumn.

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