It's looking like the DXY is ready to pop. Often DXY spikes coincide with geoplitical events, political chaos, and market corrections. From a technical bases, DXY is very oversold, and 90.5~ area looks like strong support. The 3 day and weekly RSI are diverging, and we have Demark TD8's on the daily and 3 day. I would be careful in metals+crypto+equities here, and I have taken a position in UUP calls.
Kommentera
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Ideally bottoms today. Early next week is a possibility but I'd like to see it hold 90.50~ area. Expect a news catalyst
Kommentera
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A good start! Nice hammer on the daily+3 day. The next few sessions will be key in determining if we can get a local bottom (or more) here, vs. a deadcat