DXY Ready to Resume Uptrend
Updated
the Dollar has been beaten up lately, but it is poised to come back strong in the next day. The notes are on the chart. If any of my trend lines get broken, this idea is invalidated. I believe that this increase will coincide w/ a strong decrease in Gold, Oil, Nat Gas, and S&P. I will try to release those near term forecasts tonight.
Note
It's lining up well and about to break the 4hr wave downtrend, plus there is a squeeze on the 2hr. Note
I started to have concerns yesterday when the dollar didn't go up by the end of the day. The dollar has now broken the trend line and is at the very bottom support within a descending wedge. Below that, there is support around 93.20, but if this breaks, I could see it going to 91.92. But I am confident that this wedge will hold and we'll break out within a day. This idea didn't go according to plan and it is because I underestimated the negative effect of the Day wave which was still in a strong downtrend. It has begun working it's way toward positive, but it's going to take another day.
Note
My new target is 93.09. 
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.