DXY: Aiming at a new Low. Long term bearish trend intact.

DXY is having the strongest bearish 1D candle since the May 31st rejection at the top of the long term Channel Down. The 1D time frame is deep in red technicals (RSI = 36.647, MACD = 0.090, ADX = 40.756) but the fact that the price crossed under the 1D MA50 gain, calls for more selling.

Based on the previous bearish leg, we aim at a medium term correction of -4.85%, thus our target is structured TP = 99.700. Long term target is at a -6.66% (TP = 97.770) but only after a rebound, but until then our strategy will be updated with a new idea.

Prior idea:


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