DXY has broken so many support and now resting at Monthly S3 and very oversold in my opinion. FOMC is just hours away. I am looking for DXY to bounce to 97~98 area (at least) for a healthy pullback before continuing down. If you look at it against the Gold, you might be thinking that Gold should correct all the way down. But gold is not always inversely correlated with DXY.
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Maybe not. Even hawkish Fed's statement doesnt revive DXY. Maybe Trump is behind the helm all this while.
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Possible? DXY is overstreching and has been only one way direction down. Only breaking the neckline and retest it then it is good to short. R/R wise, I prefer long from here. s3.amazonaws.com/tradingview/snapshots/i/IZwBSfu0.png
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92.91 now. DXY seems to have stabilizing.
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93.32 right now, Will assess in nearer TF when reached 95~96 area.