DXY

Sep 24, 2020

READY TO CRASH DXY 90$

Sep 25, 2020

Note

Everyone who did not understand the recent market rally from the lows in May has one thing figured out. The dollar index has been the primary reflection of liquidity and any bounce back is being taken as a reason to sell across asset classes. The recent bounce in the DXY is very small from a historical perspective or based on the retracement done. It achieved the top end of a rising channel near 94.50 as discussed several days ago. The question here is similar. Was this bounce still wave 4 or is it a larger degree wave 2. The recent bounce is a-b-c and done or only wave A of a bounce back, we may not know for sure but we should head lower from this level in wave B or 5 down.

The long-term trend of the dollar is bearish and therefore after every 3 waves up I would look for bearish alternates first. I expect the dollar to head back to 93.12 near the lower end of the rising channel/flag. If that level breaks it may signal that another impulse down has started, we can figure out which wave in the structure later.

Sep 30, 2020

Note

my tp 1 done 93.67

Oct 2, 2020

Note

near to my tp 2 73.56$