Traders and investors,
As we approach the last week of this month and quarter, markets have been tumbling across the asset classes and world. The major reason has been the strength of the dollar. The dollar is still directly or indirect the most important underlying factor in all world economics. That is why nearly all investors, traders and analysts keep an eye on Fed’s activities.
Not so long ago, the general perception and consensus was that Dollar was dying. Every body including big media outlets was bearish on it. Then what happened? The market turned and caught everybody by surprise.
Well, now look at the king dollar. It is almost there at out second bullish target that we analysed and predicted nearly 2 years ago. As the stocks have been falling and indices have been taking major corrections, media and most traders have again started to call for even further bullish dollar. The general consensus again is building that Dollar will continue to rise higher and there will be a major crash all over with the fear of recession. While this might be a one of the possible scenarios, usually a strong general consensus is wrong as we saw the last time.
So what can we expect? The dollar is bullish and has been bullish without doubt. However we must trade what we see objectively. We learn to analyse the charts and try to deduce our conclusions objectively without any bias. So what we see that we have a bearish case for dollar too now. This may not be a huge bearish case but at least a correction can come from it.
Here are are the reasons for it:
1. Dollar has completed a W pattern. When W pattern completes, markets takes a correction
2. Dollar has reached a structure and FCP zone
3. There is a triple RSI divergence on the weekly time frame
4. The last week’s candle was over extended
5. The general consensus is usually wrong
As we approach final few days of the this month, please make sure that you manage the risk properly and trade only what you are comfortable with. A trader knows when NOT TO Trade better then when to trade.
Here are the charts:
A full in-depth top down analysis of Dollar (DXY is available here:
Wish you all the best!
To get premium analysis on a market of your choice, visit us at Vikinsa’s Premium Analysis Report
Have a great week ahead
🔵 Find and Follow: https://vikinsacm.contactin.bio/
🔵 Premium Market Analysis Report: https://bit.ly/vikinsapremiumanalysis
🔵 FCP Core Strategy Training – https://bit.ly/vikinsacorestrategyprogram
🔵 Training Brochure (Fee and Curriculum): http://bit.ly/Vikinsa-FCPTrainingBrochure
🔵 VATA Envisage Algo Indicator Suit – https://bit.ly/2RInsU3
🔵 Free telegram channel and group: https://t.me/VikinsaFx
🔵 TradingView – https://www.tradingview.com/u/vikinsa/
🔵 YouTube – https://www.youtube.com/vikinsa
🔵 LinkedIn – https://www.linkedin.com/in/vikinsa/
🔵 Twitter: https://twitter.com/vikinsa
🔵 Visit Website – https://vikinsa.com
👍Found this video useful? tip us: ☺
USDT: TJyAhd3Due7T21pGHp1NdTDGa7JH1oWRpQ (TRC20)
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
4. Read the disclaimer and be 100% responsible for your own actions.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don’t hesitate to share your ideas, comments, opinions and questions.
✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
Take care and trade well
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
Be the first to comment