DXY - No more love for 200 EMA
DXY impulsively moved down last week finally breaking through the 200 EMA that its being rejecting off for the last year. So now the question is where to next? There are a lot of people suggesting that DXY will just keep falling like a stone since we broke the lower (blue) trend line . I however think it's important to focus on the current pattern and not get too hung up over the previous. This is why I've drawn the dotted blue line to indicate the previous ascending wedge . Right not it looks like we're in a descending channel (red). This indicates that we could slowly move back up to the mid 96 or even higher before another drop down to 95.x.
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