DXY Weekly - possible trendline rejection.
Updated
Disclaimer - I am not a financial advisor.
The current weekly candle (wait for the candle close!) will decide whether
the DXY is having a major rejection of the trendline that dates from 2011 (trendline in red connecting the lows)
or
if we see the USD faking it out and disregarding it totally.
The current weekly candle (wait for the candle close!) will decide whether
the DXY is having a major rejection of the trendline that dates from 2011 (trendline in red connecting the lows)
or
if we see the USD faking it out and disregarding it totally.
Note
Furthermore...there is always a possibility of support a bit lower:Note
1) If RSI trendline (Arrow in red) holds then price action should revert at the current trendline (Arrow in white). 2) In case this trendline does not hold trendline with yellow arrow should provide support.
Note
DXY breaking down support:
Disclaimer
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