DXY vs EUR/USD some considerations
Updated
Hi Guys,
the fundamental driving this scenario is Trump's Presidency and the assumption (maybe wrong) that he wants a weaker US dollar.
X) is the end of 2016 when Trump takes office at the White House. DXY starts to fall and bottom at the beginning of 2018 when A) is formed. From A) the index starts a retracement into US Mid Term Elections to make B).
Is B) the top of the retracement or DXY will extend above B)?
Looking into EUR/USD for clues I've noted that the pair marked a Pivot at B). DXY did not mark any Pivot at the level of B).
In addition to this, following today Draghi's press conference, the EUR weakened further towards B) which I was supposing to be a top in DXY and a bottom in EUR/USD.
Here is EUR/USD mirroring DXY.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
the fundamental driving this scenario is Trump's Presidency and the assumption (maybe wrong) that he wants a weaker US dollar.
X) is the end of 2016 when Trump takes office at the White House. DXY starts to fall and bottom at the beginning of 2018 when A) is formed. From A) the index starts a retracement into US Mid Term Elections to make B).
Is B) the top of the retracement or DXY will extend above B)?
Looking into EUR/USD for clues I've noted that the pair marked a Pivot at B). DXY did not mark any Pivot at the level of B).
In addition to this, following today Draghi's press conference, the EUR weakened further towards B) which I was supposing to be a top in DXY and a bottom in EUR/USD.
Here is EUR/USD mirroring DXY.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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