Dollar Index Still Above Support!
Hello, Traders!
DXY( The Dollar Index) is in a free fall
However, the strong Support area on the WEEKLY chart is near
This is the area, where I expect the falling to stop
And perhaps reverse, at least in a pullback.
So is it time to buy US Dollar across the spectrum?
Not yet, as the currency is not yet quite reached the support
So even though we are seeing a small pullback on the DXY
I think it will fall a little more
Before hitting the support
Where I expect to enter a range, after which it will be decided
Whether the Dollar goes Up or breaks the support
And keeps falling. Fundamentally, there is a shortage of Dollars right now
So I stand with the former.
But lets see what the new year brings us!
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