DXY falling, not unprecedented
DXY has now fallen out 3-year range with new 52-week low.
In this chart, 13-week, 26-week, 52-week and 104-week exponential moving averages. These represent quarterly, half-yearly, yearly and 2-year trend.
Note that the 13-week in red and 26-week in blue are now acting as resistance. Since November last year, the last dead cross has also appeared.
I wrote a long explanation in this post ‘5 bearish signals that show DXY uptrend terminated‘ to share my observation why DXY will continue to fall.
The fact is there is only one simple explanation – that such a move is not unprecedented so history is likely to repeat in the same if slightly different way.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
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