We started out today where often have lately, by looking at the US Dollar Index (DXY) and whether it could be putting in a bottoming sequence around a very pivotal big-picture spot. It will need to turn higher pretty soon to see this development take shape, but with a swing-low on the 4-hr (perhaps as soon as today) we could at least be cementing in another higher-low and see an ascending wedge come to form. For this is to happen, of course, the heavily-weighted DXY component – euro – will need to reverse lower. EURUSD is stuck between big long-term resistance around the 2012 trend-line and the April trend-line, ~11825-area of support.
US Dollar Index (DXY): 4-hr
(Image not shown due to low ratings)
(Image not shown due to low ratings)
(Image not shown due to low ratings)
Images were hidden due to low ratings.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.dailyfx.com/forex/video/live_events/2017/09/22/Trading-Outlook-US-Dollar-Euro-Gold-Price-DAX-More-PRtech.html