DXY has being in the formation of a channel pattern for over a decade and it's price swings are still respecting the formation which started amidst the 2008 Global crash. Price has made four rejections from the structural support and has made it's fifth touch from yesterday's pricing.
The projection is that for the purpose of this fifth touch, the market couldn't make it's expected quarterly rally for the last Q2. And the expecation is to see the rally begin this quarter after the touch has being made.
Yesterday's pricing in New York tipped the hands that a shift in weekly pricing has started and is expected to continue throught the week. We expect to see the weekly close above 99.392 as a confirmation for the beginning of this rally.
DXY has being in the formation of a channel pattern for over a decade and it's price swings are still respecting the formation which started amidst the 2008 Global crash. Price has made four rejections from the structural support and has made it's fifth touch from yesterday's pricing.
The projection is that for the purpose of this fifth touch, the market couldn't make it's expected quarterly rally for the last Q2. And the expecation is to see the rally begin this quarter after the touch has being made.
Yesterday's pricing in New York tipped the hands that a shift in weekly pricing has started and is expected to continue throught the week. We expect to see the weekly close above 99.392 as a confirmation for the beginning of this rally.
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