DXY – Bearish Weekly View

Bryce YoungUncategorized

While the lower TFs show an uptrend, we need to remain cognizant of the Weekly and Daily TFs. In Janurary DXY made a lower low when it touched 88. Since it’s had trouble breaking the resistance at 95, it’s becoming more and more likely that it will try its last low again, or at least the support at 92.

DXY – Within Ascending Triangle

Bryce YoungUncategorized

DXY still has its uptrend intact, however the rejection at 95 is strong. UJ and DXY are both at critical decision points. We’ll find out tonight, most likely, which direction they’re headed.

DXY – Failed to Break 95

Bryce YoungUncategorized

DXY tested our 95 – 95.5 Resistance zone and rejected it. I interpret this as an indication of weak bulls. We’re coming closer to the end of the ascending triangle pattern, so this consolidation shouldn’t last another week. I expect a breakout this coming week or next.