Dollar to Resume Sideways/Downtrend Price Action Tomorrow
Traders,
From a technical perspective, the dollar is doing exactly as it should. Technical analyst should have expected a retest of what was previously very strong support. We have now observed that retest and the dollar has permission to continue its descent. If descent is not immediate, sideways action can be expected. But, least likely, is the possibility that the dollar re-breaks the macro uptrend to the top side. Vix data correlates with the continuation of the dollar's descent.
And with continued dollar descent, we should observe the market to continue onwards and upwards. Crypto will continue to follow.
Stew
From a technical perspective, the dollar is doing exactly as it should. Technical analyst should have expected a retest of what was previously very strong support. We have now observed that retest and the dollar has permission to continue its descent. If descent is not immediate, sideways action can be expected. But, least likely, is the possibility that the dollar re-breaks the macro uptrend to the top side. Vix data correlates with the continuation of the dollar's descent.
And with continued dollar descent, we should observe the market to continue onwards and upwards. Crypto will continue to follow.
Stew
Stewdamus Trades -
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
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