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Thursday, November 23, 2017 10:21:36 AM
The Dollar Index Breaks Down, Resumes its Larger, Dominant Downtrend
By: MPTrader | November 22, 2017
We have discussed in the recent past that when the Dollar has a pronounced, dominant directional trend from January into the Q3, and there is a failed counter-trend rally, the dominant trend trend nearly always reasserts during Q4 into year-end.
If this year's profile follows such a scenario, then DXY weakness off of the 10/27 and 11/07 highs at 95.15 represents the initiation of a new downleg within the dominant downtrend that began in Jan. 2017, which should press DXY to new lows beneath 91.01 towards 88.30/00
https://www.mptrader.com/middaymarkets/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By: MPTrader | November 22, 2017
We have discussed in the recent past that when the Dollar has a pronounced, dominant directional trend from January into the Q3, and there is a failed counter-trend rally, the dominant trend trend nearly always reasserts during Q4 into year-end.
If this year's profile follows such a scenario, then DXY weakness off of the 10/27 and 11/07 highs at 95.15 represents the initiation of a new downleg within the dominant downtrend that began in Jan. 2017, which should press DXY to new lows beneath 91.01 towards 88.30/00
https://www.mptrader.com/middaymarkets/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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