U.S. Dollar IndexShort
DXY - What goes up must come down
Updated
• DXY indeed tested the 21W EMA after closing below the 8W SMA.
• However, it was a successful test and DXY pumped back up.
• Nonetheless, RSI is reaching oversold territory and historical weekly resistance.
• What goes up must come down. Doubly so for such speedy ascents.
• Let's watch this and the next weekly closes.
• However, it was a successful test and DXY pumped back up.
• Nonetheless, RSI is reaching oversold territory and historical weekly resistance.
• What goes up must come down. Doubly so for such speedy ascents.
• Let's watch this and the next weekly closes.
Note
Great! We now just need DXY to close the weekly, either this or the next, below $95.8 to retest at least $95.2.Note
Well...that was fast...but let's watch the weekly close to evaluate the potential for more downward movement
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