The DXY posts bearish engulfing candle Tuesday – confirming more downside ahead

FXstreet.com (Barcelona) – The DXY broke out of the three-day period of indecision to the downside by posting the dreaded bearish engulfing candle which, at the very least, sets the direction for the short-term.

DXY blew off better economic data from the US to finish near the lows

The S&P Case Schiller Home Prices Index, Consumer Confidence and Richmond Fed Manufacturing data all came out better-than-expected during the US session. But, the normally DXY-bullish data was brushed aside in favor of the new-style risk-off trade where big money flows into US Treasuries, gold, silver and the Japanese …read more