UPDATE: Today's low @92.62 basis point as of August 24 2015
On extreme market volatility
USD (DXY) Market RECALL as of JULY 30, 2015
On extreme market volatility
USD (DXY) Market RECALL as of JULY 30, 2015
As the chart reflects that once the prices fails to make a convincing resistance breakout; a lower closing below the support of the Andrew's Pitchfork below the 96.00 basis point handle, expect a corrective move with an attempt on the 94.00 on the low end of the previous leg; but would be a higher bottom on the chart when it does occur. On the other hand, other chart patterns are pointed out in our video support on the US Dollar as probable indicators for the next probable directional price action as the formation completes in the next few trading sessions.
A convincing volume and follow-through buildup would only be justified with a much stronger catalyst that can drive a direct candlestick bar that can make the butterfly formation be overshadowed making a substantial rally more justified when it does. Favoring a break higher would still be the primary direction from the consolidation and the recent decline.
As of August 23 DXY low @94.15 Today in Asia Trading Session
Link:
http://www.megatrade101.com/index.php/component/content/article/2-uncategorised/805-market-insight-usd-confined-above-range#dxy-index-weekly
Related Link:
No comments:
Post a Comment