DXY followed our technicals from yesterday 100%. If you recall, we predicted that it would find some support at 98.99, since this was the lower bound of the range. Later, it was able to punch through this and sail through the vacuum zone we discussed yesterday. We have to go to 1 hour candles and go back even further to the beginning of May to get the next level 98.66. There is another vacuum zone down to 98.29, if there is another selling wave. But it is likely that we will see some drift upwards as the dollar feels out this new territory.

The Kovach Chande (purple line) has picked up notably, and we see a green triangle on the Kovach Reversals Indicator (KRI) indicating that we may see some bullish drift or ranging as the DXY digests this new price point.

Best Ideas for the DXY

The DXY has fallen quite hard, placing it at the bottom of the range, which extends back to May. The best strategy would be to consider the support levels shown.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

©2021 Ghost Squawk

Log in with your credentials

or    

Forgot your details?

Create Account