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U.S.$ Index/Continues to Sell off *PIC*

DX broke up over 82 resistance and ran up to the Sept/11 top at 83.64. Note how overbought the RSI 21 became which was over 70 and rolled over sharply after tagging that double top. Also see the CCI 20 showing a pronounced negative divergence on that high as well. Price pulled back quickly and sharply off that resistance high and then bounced off of the 82 breakout point support briefly. Price is now breaking down below 82 which is also its 20ema and should head back down to 81 or even 80. So inverse markets should rally much the same manner they plunged when DX was rallying the entire month of May if this selloff continues. Backing off another point or two doesn't seem like much but will have a dramatic effect on inverse markets. A 'close' Monday below 82 would confirm a breakdown of this short term support level and suggest a further pullback.

Messages In This Thread

U.S.$ Index/Continues to Sell off *PIC*
Re: U.S.$ Index/Continues to Sell off/Trades *LINK*
Re: U.S.$ Index/ Sell off & Bounce Back *PIC*