DXY: Be VERY CAREFUL About Buying This!
Recommendation: Watch and Wait
The Dollar did not reverse last week as I was projecting it might after completing that crab pattern. But let's keep in mind that prices will often exceed the D point of the crab because the crab CD leg is reflective of an impulse wave. Usually a strong one. And in that sense, the ending of that impulse wave will usually end violently. We haven't seen that yet here. So I am projecting now that we should see prices drop more and do it explosively! So be careful of buying here!
The Dollar did not reverse last week as I was projecting it might after completing that crab pattern. But let's keep in mind that prices will often exceed the D point of the crab because the crab CD leg is reflective of an impulse wave. Usually a strong one. And in that sense, the ending of that impulse wave will usually end violently. We haven't seen that yet here. So I am projecting now that we should see prices drop more and do it explosively! So be careful of buying here!
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Twitter: @andrewefxselect
Website: efxselect.com
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