The plunge of the dollar might very soon be over for a large correction or a complete reversal.
DXY has possibly formed an ending diagonal. In Fractology we define this pattern as a terminal one which tends to happen when the market is deeply high or low.
The dollar index is not possible to trade. It consists of several pairs with the following weight on it:
Euro (EUR) - 57.6%
Japanese yen (JPY) - 13.6%
Pound sterling (GBP) - 11.9%
Canadian dollar (CAD) - 9.1%
Swedish krona (SEK) - 4.2%
Swiss franc (CHF) - 3.6%
Therefore Fractology comes to the conclusion we should look for some buying opportunities for these pairs in the near term.
DXY has possibly formed an ending diagonal. In Fractology we define this pattern as a terminal one which tends to happen when the market is deeply high or low.
The dollar index is not possible to trade. It consists of several pairs with the following weight on it:
Euro (EUR) - 57.6%
Japanese yen (JPY) - 13.6%
Pound sterling (GBP) - 11.9%
Canadian dollar (CAD) - 9.1%
Swedish krona (SEK) - 4.2%
Swiss franc (CHF) - 3.6%
Therefore Fractology comes to the conclusion we should look for some buying opportunities for these pairs in the near term.