USDX: What is Dollar's Goal ?
By observing the dollar from a monthly perspective, we quickly see the formation of a partterne: the Quasimodo(QM) which gives us a vision of a bearish scenario.
Currently the price is in a compression towards a sales area (MONTHLY SUPPLY).
If we want to go in this direction, we must also take into account that the supply can be quite low and the price could exceed the expectations to look for more liquidity at the last higher so forming a double high before starting a new downtrend.
Dear fellow traders, let's not forget the change in variables, keep a close eyes on economic news, the dollar could be worth more than we might expect.
Currently the price is in a compression towards a sales area (MONTHLY SUPPLY).
If we want to go in this direction, we must also take into account that the supply can be quite low and the price could exceed the expectations to look for more liquidity at the last higher so forming a double high before starting a new downtrend.
Dear fellow traders, let's not forget the change in variables, keep a close eyes on economic news, the dollar could be worth more than we might expect.
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