The rally has only started. Wyckoff accumulation + fundamentals
As we expected American Dollar rallied last week. The price forms Wyckoff accumulation on a daily chart. It makes sense to look for new entries when the short-term oscillator gets oversold. I got so many questions last week about DXY and most of them were like – ‘Why do you expect a rally if US data is so weak?’. Well, the dollar is not just a currency, it is a safe haven. Besides, it is undervalued, unlike gold. We still have a lot of risks related to coronavirus and its impact on the economy. It can trigger a significant rally in DX. Besides, there is a strong setup in this market:
The weekly pinch-paunch indicator is 58 (a sign of trend change)
The valuation model – undervalued
COT – bullish
Intermarket forecast – bullish
Seasonal – bottom at the beginning of October
With that in mind, we want to look for and take buy signals using any trading entries.
The weekly pinch-paunch indicator is 58 (a sign of trend change)
The valuation model – undervalued
COT – bullish
Intermarket forecast – bullish
Seasonal – bottom at the beginning of October
With that in mind, we want to look for and take buy signals using any trading entries.
