DXY Weekly outlook Long(short term) Short(mid term)

Apr 21, 2019

The price of the Dollar Index had broke a channel created in the 4h timeframe, so we can expect a one more impulse to the upper part of the channel.

What to keep on consideration:

In the fundamental side: The market is watching the earning season, for this week we have the reports of Amazon, Microsoft, Exxon mobile and further more, the rapid advance on the Dollar Index price last week is thanks to corporate results, such as Bank of America last week report. The price is tracking also any advance on the US-China trade deal. Is important to watch the Advance QDP quarter US report on friday too.

In the technical side: The price had already broke the channel created in the 4h timeframe. According to the fibonacci extension the second impulse is going to be near the upper part of the channel, if this happen, in the daily chart we are going to see a new high from the previous high formed in nov/dec 2018, expecting the "b" wave of the flat extended retracement process.

So for this week we expect more hikes in the price of the Dollar Index in the short term. But the big short is a still a big possibility while the price respect the channel.

PLEASE GIVE A LOOK TO THE DAILY CHART TO SEE CLEAR THE BIG PICTURE

Sources:

cnbc.com/2019/04/19/earnings-and-data-could-be-proof-that-slowdown-fears-were-overblown.html
cnbc.com/2019/04/18/expectations-for-first-quarter-growth-have-suddenly-surged-past-2percent.html
forexfactory.com/calendar.php
finance.yahoo.com/calendar/earnings?from=2019-04-21&to=2019-04-27