DXY IN LONGTERM VIEW
Updated
Hello everyone, hope everyone doing good,
(Not a financial advice)
After Analyzing DXY/Dollar, in Longterm view Dollar is doing something similar to the past and present.
FALL A -----> STOP/CONSOLIDATE/CUP SHAPE----->UPTREND/PARALLEL CHANNEL----->TOPPING PROCESS/BEARISH DIVERGENCE---->FALL B------> STOP/CONSOLIDATE/CUP SHAPE------>UPTREND/PARALLEL CHANNEL--->TOPPING PROCESS?/BEARISH DIVERGENCE NOT CONFIRMED YET.
DXY in long term it was in massive downtrend in huge Descending triangle, it did Breakout but we have to see if it will back test the top level of Triangle or not.
Once if Bearish Divergence is Confirmed most likely it will come back to the lower levels may be 80 or 70.
Currently it's in the process of making Bearish Divergence in RSI moving in upside direction in the chart.
To my guess most of the markets will be paused/go sideways for little long term, once Dollar gets failed to move in upside Direction.
After Analyzing dxy/dollar, the momentum of going up is reducing consistently, looks like DXY/Dollar will come down.
Thank you, stay safe, stay smart.
(Not a financial advice)
After Analyzing DXY/Dollar, in Longterm view Dollar is doing something similar to the past and present.
FALL A -----> STOP/CONSOLIDATE/CUP SHAPE----->UPTREND/PARALLEL CHANNEL----->TOPPING PROCESS/BEARISH DIVERGENCE---->FALL B------> STOP/CONSOLIDATE/CUP SHAPE------>UPTREND/PARALLEL CHANNEL--->TOPPING PROCESS?/BEARISH DIVERGENCE NOT CONFIRMED YET.
DXY in long term it was in massive downtrend in huge Descending triangle, it did Breakout but we have to see if it will back test the top level of Triangle or not.
Once if Bearish Divergence is Confirmed most likely it will come back to the lower levels may be 80 or 70.
Currently it's in the process of making Bearish Divergence in RSI moving in upside direction in the chart.
To my guess most of the markets will be paused/go sideways for little long term, once Dollar gets failed to move in upside Direction.
After Analyzing dxy/dollar, the momentum of going up is reducing consistently, looks like DXY/Dollar will come down.
Thank you, stay safe, stay smart.
Note
Point to add is there is possibility of DXY/Dollar going sideways and may Breakout from the parallel channel too.we have to wait for another 6months from now to analyze or confirm the Divergences.
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