The US Dollar Index (DXY) has taken a sudden flip decrease that could be a sign it desires to reverse cou
The US Dollar Index (DXY) has taken a sudden flip decrease that could be a sign it desires to reverse course, maybe in a significant manner. However earlier than considering to macro about what the current string of weak point may imply, we should look to assist across the November 18 swing-low, and extra importantly the 200-day MA. A maintain there might stem off extra promoting and see the DXY flip again larger, however a break could have an necessary take a look at of the September 2018 trend-line that has helped preserve the index shifting larger. It will be a stable spot for would-be longs from a danger/reward perspective, whereas for shorts a break may imply a big sell-off is underway.
US Greenback Index (DXY) Each day Chart(watch 200-day, trend-line)
US Dollar Index (DXY) Chart by TradingView
EUR/USD is at the moment at a spot of significance. The road working throughout present ranges has quite a few inflection factors, whether or not they be highs, lows, or closes, because the very finish of July. Yesterday might have been a one-off spike larger, however we are going to know extra on that quickly. If the rally can maintain and garner extra energy, then an necessary take a look at of the September 2018 trend-line and 200-day MA may shortly come into sight. A breakdown that negates the current surge may imply the Euro will maintain below 11000 and probably commerce to a brand new cycle low under 10879….