01.09.2022
WE WILL LOOK AT THE LOGARITHMIC CHARTS (LOG CHARTS)
WEEKLY CHART – it looks like a TOP is forming. We break down different time-frames and analyze what may come next. The most important thing is to know where our thesis is negated, and we will try to find those levels. This chart is not BULLISH.
WEEKLY – EXPANDED (WE WANT TO SEE A CLOSE UP OF LAST WEEK’S CANDLE)
DAILY CHART – We see a close up of the TOP FORMATION. In addition, we see a count, a classic, that leads us to believe that the next move is LOWER, part of a short term corrective move for the INDEX.
4-HOUR CANDLE – We identify 95.50 as the level to watch. This break could mean DEEPER LOSSES for the DXY.
HOURLY CHART – The level identified corresponds to a short term FIBO, this increases its significance. We may see some congestion, if we don’t, the losses could intensify.
Our thesis remains intact. We favor a WEAKER USD for the immediate future and will reassess the thesis if we break the short term TOP (97.00 paid).
We like to express this view via EURUSD and USDSEK primarily.