DXY: do or die moment for US dollar?
Updated
US dollar - Multi-year bear market or another dead cat bounce?
DXY is testing the lows of a 9-year channel once again since Feb 2018. Considering FED QE Program, overall economical settlement, trade war with the world's new emerging power (China) and political situation in the US, dollar might be on a verge of a free fall and multi-year bear market.
Personal thoughts: I do not expect it to give up that easy, and not that fast. RSI on 1D looks way oversold (but I do not use it as a primary indicator). Looks like we will get a bounce from here, but the question is for how long?
If we'll loose channel bottom and make a clean close below it on 1W Chart - XAU, XAG and BTC might actually become a "safe haven" (Not financial advise)
Do not hesitate to share your opinion in the comment section!
DXY is testing the lows of a 9-year channel once again since Feb 2018. Considering FED QE Program, overall economical settlement, trade war with the world's new emerging power (China) and political situation in the US, dollar might be on a verge of a free fall and multi-year bear market.
Personal thoughts: I do not expect it to give up that easy, and not that fast. RSI on 1D looks way oversold (but I do not use it as a primary indicator). Looks like we will get a bounce from here, but the question is for how long?
If we'll loose channel bottom and make a clean close below it on 1W Chart - XAU, XAG and BTC might actually become a "safe haven" (Not financial advise)
Do not hesitate to share your opinion in the comment section!
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So we got "Die". Another stimulus talks in the US & 10-year trend line broken. We're heading to 2018 lows before any kind of support. Macro - bearish!
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