DXY 4H Golden Cross gives a Lower Low since March 2019

٦ أغسطس ٢٠٢١

Three days ago an important pattern that may have been overlooked was formed on the U.S. Dollar Index, the Death Cross. This is a simple illustration of the Death Cross formations (when the MA50 (blue trend-line) crosses below the MA200 (orange trend-line)) on the 4H time-frame.

As you see, since the failed March 2019 Death Cross (scroll to the left to see the rest of the chart), every 4H Death Cross has delivered a Lower Low after its formation. This is quite a sizeable sample, 9 formations in more than 2 years. In my opinion that makes DXY bearish (despite today's Nonfarm Payrolls report) on a 3-4 day horizon at least.




** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------

!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!

🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> sikret

--------------------------------------------------------------------------------------------------------