$DXY -Ballads of the Dollar *W (11 Consecutive Green Weeks)
Updated
Its time for a Dollar Story !
(previous lin echart idea 100-105 Range; before & after to the current spot)
The Dollar Index (
DXY ) has managed to print 11 Consecutive Green Weekly Candlesticks,
rallying up as much as 8 % from its July/2023 99.580 Low.
A low violating all Technical aspects, which got us into a Short Idea but not
for long before changing bias
(idea's live chart)
DXY tried to close in Green its 12 Consecutive Candlestick Print, but failed to do so.
However,
during this up-rally time of Dirty MightyDXY for the past 11 Weeks,
heavy negatively correlated assets like EEUR/USD and other major FX pair got
slapped on the face mercilessly,
as well so did the US Major Financial Markets and other Indexes and Equities,
but when comparing them with the Fiat Currencies market,
their blood shed was less.
Is about time for The Dollar Index (DXY) to cool down for a while and correct ?
Fundamentally no,
as fear and troubles looms for a US Recession being just around the corner.
Technically (TA) speaking yes,
it is time for a brief correction,
would be totally fine for someone looking in to longing the Financial Markets or
exchanging their Fiat Dollars for other Major Fiat Currencies.
We can seeDXY on line chart having broken the Range's Ceiling of 100-105,
as well retesting it (so far).
Holding it as Support or finding itself below again facing it as Resistance
shall be proven on upcoming week(s)
(previous lin echart idea 100-105 Range; before & after to the current spot)
The Dollar Index (
DXY ) has managed to print 11 Consecutive Green Weekly Candlesticks, rallying up as much as 8 % from its July/2023 99.580 Low.
A low violating all Technical aspects, which got us into a Short Idea but not
for long before changing bias
DXY tried to close in Green its 12 Consecutive Candlestick Print, but failed to do so.However,
during this up-rally time of Dirty Mighty
DXY for the past 11 Weeks, heavy negatively correlated assets like EEUR/USD and other major FX pair got
slapped on the face mercilessly,
as well so did the US Major Financial Markets and other Indexes and Equities,
but when comparing them with the Fiat Currencies market,
their blood shed was less.
Is about time for The Dollar Index (
DXY) to cool down for a while and correct ?Fundamentally no,
as fear and troubles looms for a US Recession being just around the corner.
Technically (TA) speaking yes,
it is time for a brief correction,
would be totally fine for someone looking in to longing the Financial Markets or
exchanging their Fiat Dollars for other Major Fiat Currencies.
We can see
DXY on line chart having broken the Range's Ceiling of 100-105, as well retesting it (so far).
Holding it as Support or finding itself below again facing it as Resistance
shall be proven on upcoming week(s)
Note
DXY ( Line Chart )Previous released Idea (Candlestick Chart)
*Daily and *Weekly Resistances
Meanwhile on the *W (tf),
DXY managed not to close its 12 Consecutive Green Weekly Candlestick.Whats worrying is that the last Weekly Close was very Bearish in Price Action,
printing whats called ' A Topping Tail '
DXY'Middle Line War-Zone (103)
Dollar Index showing Support on Middle Line of 100-106 Macro Range
*Weekly (tf) Update
Short Entry given with S/R zone being a target
End of second 2nd Week of December (Q4/2023)
bouncing off at S/R level (Midd-Line)
Note
DXY target (Range Bottom) hit in Q4/2023.DXY starting Q1/2024 on Bullish momentum,TA speaking bouncing from Support provided at range bottom.
*Weekly bounce.
Price Action indicates a Wick testing the range bottom which provided support.
Is
DXY about to rally further more throughout 2024 ?(Q1 most likely)
Zoomed-in on *Daily (tf)
(facing resistance trendline)
Need a breakout to further upside notion.
Bulls must take control of breaking and retesting as support the current
resistance trendline.
(line chart idea released after pressing play)
(line chart live)
DXY Q1/2024
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