DXY - Dollar Bearish pattern!
Bearish wedge for the Dollar strength index.
ABCDE Pattern forming - we should get the E as this bearish move plays out.
still could see another short term rally heading into the FOMC meeting July 26TH.
*another pause from the fed would cause more weakness in the DXY
*Fednow rumoured to go live July 20th - although still a rumour.
*Extra liquidity will be created from Fednow, adding to the overall dollar supply which should cause weakness in the price/value.
*Brics nations advancing - more countries are joining!
*Russia is planning to create a gold backed currency.
I believe this wedge will play out is just a case of when, another pause from the fed would align nicely with this chart.
Interesting times ahead!.
let me know your thoughts below.
ABCDE Pattern forming - we should get the E as this bearish move plays out.
still could see another short term rally heading into the FOMC meeting July 26TH.
*another pause from the fed would cause more weakness in the DXY
*Fednow rumoured to go live July 20th - although still a rumour.
*Extra liquidity will be created from Fednow, adding to the overall dollar supply which should cause weakness in the price/value.
*Brics nations advancing - more countries are joining!
*Russia is planning to create a gold backed currency.
I believe this wedge will play out is just a case of when, another pause from the fed would align nicely with this chart.
Interesting times ahead!.
let me know your thoughts below.
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