U.S. Dollar IndexShort
DXY💲 topping?
Updated
It seems that DOLLAR INDEX move is becoming overstretched and the price could be topping as it is approaching strong resistance (confluence of longterm trendlines) on monthly chart.
Also sligthly above there is 0.618 fib retracement of the huge downtrend 2001-2008.
Also TD Sequential will print "9" by end of this month.
For all the reasons above I do expect pullback which could send the Dixie back down to 0.5 fib retracement (95ish) as shown by blue path projection.
Zoom🧐 in for better experience.
DXY weakness should mean Crypto, Stonks and Commodities strength. Bear in mind that we are looking at monthly chart so the potential reversal will not happen overnight. The price can overshoot the resistances a bit which often happens at the end of trend (blow off top).
Check my other stuff in related ideas.
Please like👍, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Also sligthly above there is 0.618 fib retracement of the huge downtrend 2001-2008.
Also TD Sequential will print "9" by end of this month.
For all the reasons above I do expect pullback which could send the Dixie back down to 0.5 fib retracement (95ish) as shown by blue path projection.
Zoom🧐 in for better experience.
DXY weakness should mean Crypto, Stonks and Commodities strength. Bear in mind that we are looking at monthly chart so the potential reversal will not happen overnight. The price can overshoot the resistances a bit which often happens at the end of trend (blow off top).
Check my other stuff in related ideas.
Please like👍, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Note
Oh forgot to display the TD Sequential, sorry. Here we go:Note
The blue path projection in the original interactive chart got screwed up for some reason (this is TV bug I already experienced with other idea). Just look at the pic above how it should actually look like ☝️
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