What should we expect from DXY Index by the end of 2023❗️❓🗺️
Updated
👋Hi everyone(Reading time less than 3 minutes⏰).
📚One of the most important Indices that we should have an analysis of is the DXY index because it has a direct impact on the Forex, Cryptocurrency, and stock and etc markets. So, in this post, I'm going to show you the 🗺️Roadmap🗺️ for DXY until at least the End of 2023 and Early 2024.
💡I used the Monthly time frame and Elliott wave theory to display the DXY index roadmap better.
💡First of all, it is better to know that the DXY index has formed an Ascending Channel since 2008 and is moving in it.
🌊According to the theory of Elliott waves, the DXY index has succeeded in completing its 5 impulsive waves in the ascending channel so that the 3rd wave was an extended wave.
🌊As a result, it seems that Corrective waves have started, and to confirm this, it is better to wait for the break of the lower line of the ascending channel.
🔔I expect the DXY to move between 🔴Heavy Resistance zone($107.62-$103.10)🔴 and 🟢Support zone($101.64-$99.58)🟢 by the end of 2023 and early 2024, and in mid-2024, the DXY will begin to trend Down, and Financial markets will likely turn 🚀Green🚀.
DXY Index Analyze ( DXYUSD ), Monthly time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
📚One of the most important Indices that we should have an analysis of is the DXY index because it has a direct impact on the Forex, Cryptocurrency, and stock and etc markets. So, in this post, I'm going to show you the 🗺️Roadmap🗺️ for DXY until at least the End of 2023 and Early 2024.
💡I used the Monthly time frame and Elliott wave theory to display the DXY index roadmap better.
💡First of all, it is better to know that the DXY index has formed an Ascending Channel since 2008 and is moving in it.
🌊According to the theory of Elliott waves, the DXY index has succeeded in completing its 5 impulsive waves in the ascending channel so that the 3rd wave was an extended wave.
🌊As a result, it seems that Corrective waves have started, and to confirm this, it is better to wait for the break of the lower line of the ascending channel.
🔔I expect the DXY to move between 🔴Heavy Resistance zone($107.62-$103.10)🔴 and 🟢Support zone($101.64-$99.58)🟢 by the end of 2023 and early 2024, and in mid-2024, the DXY will begin to trend Down, and Financial markets will likely turn 🚀Green🚀.
DXY Index Analyze ( DXYUSD ), Monthly time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Note
According to the analysis, the DXY Index may have an upward trend in the short term.✅Running well✅
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