U.S. Dollar IndexShort
#DXY is at risk of hitting this year's High at 106
Updated
US Dollar index upside is now limited at price is about to approach a golden ratio of 0.618 at the level 106 which also serves as the psychological level.
Going back a year ago, 28th Sept 2022, DXY did hit its Multi Year High at 114 which incurred severe correction until the lows of Feb 2023.
We shall therefore anticipate major reversal from the different major pairs that are correlated with #DXY.
#marketpainterph_dxy
Going back a year ago, 28th Sept 2022, DXY did hit its Multi Year High at 114 which incurred severe correction until the lows of Feb 2023.
We shall therefore anticipate major reversal from the different major pairs that are correlated with #DXY.
#marketpainterph_dxy
Trade active
#dxy Sept 28, 2023US Dollar Index faced and breached the extreme above 106 as high as 106.83 and lost its momentum. By way of Wave principle on a Daily timeframe, structure suggest a potential termination of the uptrend and thus, we are net short to ride Wave C to potential target at 92-95.
May the pips be with you and thanks for following.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.