Dollar Index ($DXY): "The next Step"
Updated
At the beginning of the year I already showed my idea about the upside potential of the US dollar (see chart below), and today I can only confirm what I said earlier. If from a technical point of view, my idea continues to be bearish on stocks markets, these considerations of mine could also have a logical sense and the scenario shown on chart could really happen.
In my previous analysis (February 2023) I showed the potential dollar rally from the area around $101, hence the Price Action showed something like a "Double Bottom" Pattern on daily and intraday chart:
(Click & Play on Chart below)
If we look at the S&P500 index over the long term, from a technical point of view, it may have completed a first bull cycle that started way back in 1872:
(Click & Play on Chart below)
At the same time, this potential "Perfect Storm" should also affect the real estate sector in the mid-term, with a contraction in prices (U.S. Case Shiller Home Price):
(Click & Play on Chart below)
...what's your opinion about this analysis?
Trade with care!
Like if my analysis is useful.
Cheers!
In my previous analysis (February 2023) I showed the potential dollar rally from the area around $101, hence the Price Action showed something like a "Double Bottom" Pattern on daily and intraday chart:
(Click & Play on Chart below)
If we look at the S&P500 index over the long term, from a technical point of view, it may have completed a first bull cycle that started way back in 1872:
(Click & Play on Chart below)
At the same time, this potential "Perfect Storm" should also affect the real estate sector in the mid-term, with a contraction in prices (U.S. Case Shiller Home Price):
(Click & Play on Chart below)
...what's your opinion about this analysis?
Trade with care!
Like if my analysis is useful.
Cheers!
Note
This also seems to be a good indicator, but to follow it we have to wait at least a couple of weeks:(Click & Play on chart below)
Note
Intraday Chart:Like 🚀..If my update is useful
Note
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