DXY Ready to Resume Uptrend

6 cze 2016

the Dollar has been beaten up lately, but it is poised to come back strong in the next day. The notes are on the chart. If any of my trend lines get broken, this idea is invalidated. I believe that this increase will coincide w/ a strong decrease in Gold, Oil, Nat Gas, and S&P. I will try to release those near term forecasts tonight.

7 cze 2016

Uwaga

It's lining up well and about to break the 4hr wave downtrend, plus there is a squeeze on the 2hr.

8 cze 2016

Uwaga

I started to have concerns yesterday when the dollar didn't go up by the end of the day. The dollar has now broken the trend line and is at the very bottom support within a descending wedge. Below that, there is support around 93.20, but if this breaks, I could see it going to 91.92. But I am confident that this wedge will hold and we'll break out within a day.

This idea didn't go according to plan and it is because I underestimated the negative effect of the Day wave which was still in a strong downtrend. It has begun working it's way toward positive, but it's going to take another day.

8 cze 2016

Uwaga

My new target is 93.09.