💵U.S.Dollar Currency💵 Index Analyze(Road Map,10/13/2022)!!!🗺️
It is better to discuss the meaning of DXY in the first step.
What is DXY?
The U.S. Dollar Index is an index of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies. The Index goes up when the U.S. dollar gains "strength" when compared to other currencies.
In the second step, let's take a look at my previous analysis that I published on July 9, 2022; as you can see, it has moved well and as predicted.👇✅
When DXY managed to break the important resistance line in April 2022, I expected a bear market in the financial markets because this line was formed since 2002, and breaking this line was not a good sign for the market.
But it seems that with DXY reaching the top of the ascending channel, microwave 3 of the main wave 5 has ended, and microwave 4 of the main wave 5 can inject new blood into the financial markets for a while.
In general, I tried to share with you the road map that DXY can have until the middle of 2025.
U.S.Dollar Currency Index (DXY) Analyze Timeframe Monthly(Log Scale).
Do not forget to put Stop loss for your positions (For every position that 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.
What is DXY?
The U.S. Dollar Index is an index of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies. The Index goes up when the U.S. dollar gains "strength" when compared to other currencies.
In the second step, let's take a look at my previous analysis that I published on July 9, 2022; as you can see, it has moved well and as predicted.👇✅
When DXY managed to break the important resistance line in April 2022, I expected a bear market in the financial markets because this line was formed since 2002, and breaking this line was not a good sign for the market.
But it seems that with DXY reaching the top of the ascending channel, microwave 3 of the main wave 5 has ended, and microwave 4 of the main wave 5 can inject new blood into the financial markets for a while.
In general, I tried to share with you the road map that DXY can have until the middle of 2025.
U.S.Dollar Currency Index (DXY) Analyze Timeframe Monthly(Log Scale).
Do not forget to put Stop loss for your positions (For every position that 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.
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