DXY 06Jan21
Close 5C
Head & Shoulders
green channel
fuchsia support
Trump END !
Close 5C
Head & Shoulders
green channel
fuchsia support
Trump END !
1
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DislikedAttached a picture of a very long-term DXY diamond pattern (monthly candeles) in order to illustrate that this might well be a long-term decision zone for the USD in general. In the area where the diamond ended we had three masssive fake breakouts to the upside, but the final breakout seemed to be to the downside. Yesterday the former resistance line (red) was nearly retested. Generally I would give up bull hopes for the time being if this manages to go substentially above 98. {image}Ignored
Disliked{quote} The last high was way below the upper resistance of the green channel. Hence it would not be a surprise if it would break through the green support line.Ignored
Disliked{quote} Ata, I know you don´t want us to mention other pairs, commodities, etc. but at the risk of getting scolded, I do note what is happening to gold today. This is turning quickly into a risk off market. The $ is king with risk off. A covid selloff may be in the works.Ignored
Disliked{quote} The question is (especially with these weekly, monthly TFs), how long will the channel continue? from 2002 to 2007/2008 (roughly) it was an up channel, since then a long travel down. But who knows if a new long channel up was started around end of 2019? There is a quote: football is not mathsIgnored
Disliked{quote} I share that. They are just levels and possibilities to look atIgnored
Dislikedbelow 1.20 this week to penetrate the gap made by the Dec 1, 2020 bullish breakout D1 candle, then maybe come back up to retest 1.23+ before real drop down to 1.16 or lower. After that maybe 1.25-1.30 during late summer/fallIgnored
Disliked{quote} Or not... We're heading down first to below 1.20 this week to penetrate the gap made by the Dec 1, 2020 bullish breakout D1 candle, then maybe come back up to retest 1.23+ before real drop down to 1.16 or lower. After that maybe 1.25-1.30 during late summer/fall. Mark my words.Ignored