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The Plunge in DXY Could Have Important Implications

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Although neither the DXY nor the CRB remain in the grasp of powerful 18-month trends, the anecdotal Momentum evidence argues strongly that both dominant trends-- up in DXY, and down in CRB-- are near or at exhaustion. Today's plunge in DXY certainly has the look of the end of the Aug upleg, and the initiation of a decline to test the dominant up trendline, now in the vicinity of 95.15. Such a decline in the Dollar should be supportive of a recovery rally in the CRB.

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