DXY: Is the Dollar About to Break the Parabolic Trend!?

Oct 20, 2022

For a few months now, I've been talking about the weekly bearish divergence in play for the DXY.

More recently, after topping out at around 114.77, we are starting to see more signs of weakness. The momentum shift continues to build up.

If this parabolic trend breaks and the DXY fails to go higher than 114.77 soon, we could be seeing a massive correction coming up.

Oct 21, 2022

Note

DXY showing more signs of weakness lately with a failure to sustain higher levels and printing lower highs on the RSI.

Oct 25, 2022

Note

DXY is still failing to make a higher high with a local double top at around 113.94. Unless DXY is able to break above that soon, this is showing signs of weakness.

Oct 25, 2022

Note

Correction in progress. I'd like to see a lower low on the DXY to confirm a stronger downtrend.