It's looking like the DXY is ready to pop. Often DXY spikes coincide with geoplitical events, political chaos, and market corrections. From a technical bases, DXY is very oversold, and 90.5~ area looks like strong support. The 3 day and weekly RSI are diverging, and we have Demark TD8's on the daily and 3 day. I would be careful in metals+crypto+equities here, and I have taken a position in UUP calls.
Note
Ideally bottoms today. Early next week is a possibility but I'd like to see it hold 90.50~ area. Expect a news catalystNote
A good start! Nice hammer on the daily+3 day. The next few sessions will be key in determining if we can get a local bottom (or more) here, vs. a deadcat
White Lake Investment
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White Lake Investment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.