As you can see, the Dollar Index got rejected on our monthly longterm Trendline, which is at a strong confluence zone with the 61.8% golden Fibonacci ratio.
Also, we do have a reversal pattern on our daily timeframe - a so-called Evening Star pattern, which is a very strong and statistically one of the most powerful Candlestick Patterns.
Fundamentals: I think that the biggest surprised this year will be a weak Dollar, which will close red on the yearly Candle. Most analysts think that the Fed is forced to hike the rates above consensus, however I think that we will get less Rate Hikes as expected. Also, current Dollar price might already have shown the increase of rates as priced in, which would explain why we are heading towards south now, in order to start our next bearish cycle.
I expect contrary to most analytical opinions, such as those of J.P. Morgan, Morgan Stanley and Goldman Sachs, a weak Dollar, which enforces a stable Stock Market, running Crypto, a reversal of the Euro and Gold rising above $ 2000 an ounce.
This is no financial advice.
RT
Also, we do have a reversal pattern on our daily timeframe - a so-called Evening Star pattern, which is a very strong and statistically one of the most powerful Candlestick Patterns.
Fundamentals: I think that the biggest surprised this year will be a weak Dollar, which will close red on the yearly Candle. Most analysts think that the Fed is forced to hike the rates above consensus, however I think that we will get less Rate Hikes as expected. Also, current Dollar price might already have shown the increase of rates as priced in, which would explain why we are heading towards south now, in order to start our next bearish cycle.
I expect contrary to most analytical opinions, such as those of J.P. Morgan, Morgan Stanley and Goldman Sachs, a weak Dollar, which enforces a stable Stock Market, running Crypto, a reversal of the Euro and Gold rising above $ 2000 an ounce.
This is no financial advice.
RT