This is Jimmy Moonboy forecasting DXY's movement. My previous posts explained the bearish divergences and broken structures in more detail.
Enjoy ;-)
Enjoy ;-)
Note
DXY heading towards the 200-day moving average.Note
Further signs of weakness on the weekly chart with this new candle forming. Major support zones are shown below:Note
Following up from my update on November 13th, the DXY is now sitting at the 200-day moving average. If it starts breaking below this, it is extremely bearish.Note
Another quick update: DXY has broken below the 200-day moving average, came back up and got rejected on it. Also, the horizontal support level has been broken. Still looking bearish in my opinion, and I would not be surprised to see this go somewhere between 100 - 103 in the coming weeks.Note
As expected, DXY has fallen between 100 - 103 per my previous update. We are now at the weekly .5 fib retracement.
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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.