I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Thursday, 5 July 2018
DXY Experience Weakness, Expected to Retest 93 Level
DXY fails to break 95 on 3 attempts. Thus, demand is not supportive of a higher DXY. index is expected to retest and retest support at 93. Momentum indicator, MACD, is already bearish and has just witnessed Bearish Divergence. MACD is expected to trade towards its zero line.
Technical view is negated is DXY -0.20% closes above US$95.50.