DXY - Failed 4th Attempt to Break Above 78.6% Retracement

17 May 2020

The Dollar Index failed for a forth time on Friday to hold above the 78.6% retracement level from the recent down swing and closed out with a typical Doji looking candle. This suggests we might start to see some selling action but please note that last Monday ( May 11th - Green-line should be pointing there ) the markets starting fleeing for safety and buying the greenback as concerns about the US reopening and loosing restrictions around COVID19. If we see a repeat of last week, well expect DXY to continue north, otherwise we should see some bearish continuation.

Trade Safe - Trade Well
Cheers!

17 May 2020

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Please note the Green-Line Should be pointing to the next Bullish Significant Candle (Monday May 11th)