Friday, October 19th, 2018 – DXY Review
Yesterday we called out that DXY would climb up and collect liquidity, it did so as displayed on the chart below and hit the bearish order block. I now expect DXY to drop down as displayed but meet some resistance at 95.68, 95.60, and 95.50, all levels for MM accumulation. The Sellers Profile is still holding and has not been invalidated when we look at market conditions, such as interest rate, etc, we are seeing signs of weakness. Yes, I know, we have a strong market on the surface but below the surface, you can see correction on its way; mortgage loans are starting to hit the threshold of too expensive and people are starting to look at renting, I expect new home sales to decline further next month due to this which will have a snowball effect.
Please do your own review, this is only how I trade.
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