U.S. Dollar IndexShort
DXY double bottom measured move completed
Updated
Just look at how far the purple line is from the yellow line on the monthly RSI. The US dollar is due for a correction.
As you can see it shot up 12% from the neckline of this double bottom pattern which is the exact measured move and started retracing on the shorter timeframes from about 111.8. I could see it going higher maybe to 113 or even 115 but I think we are very close to the top of this impulsive wave.
Good luck
As you can see it shot up 12% from the neckline of this double bottom pattern which is the exact measured move and started retracing on the shorter timeframes from about 111.8. I could see it going higher maybe to 113 or even 115 but I think we are very close to the top of this impulsive wave.
Good luck
Note
The DXY is now at supportNote
Note
If daily RSI can't cross the 70-75% ish line, we have a local top forming on DXY, which could be very bullish for equities for the next few months
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