U.S. Dollar IndexShort
DXY RALLY IS LOSING STEAM
DXY has had a bounce since it fell out of its multi-year broadening structure. It looks as though dollar bulls have been trying to buy the dollar up on the thoughts that it is over sold. A mini triangle pattern formed due to the bulls doing their thing; but the price action fell out of that pattern and has failed to reclaim that area (twice on the 4 hour 4 chart). You know what they say...three strikes and your out! Should another failed move into the structure occurs, there is a good chance that the dollar will continue its decent into the abyss. This will of course be positive for non-dollar denominated assets.
...THIS IS NOT FINANCIAL ADVISE; Y'ALL ARE ADULTS...
...THIS IS NOT FINANCIAL ADVISE; Y'ALL ARE ADULTS...
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