DXY Dollar Index : History in the making , close to 40 year look
Updated
Worst national debt in history topping $30 trillion USD.
Pandemic damages still lingering and causing shadow of doubt.
Global tensions of war add and economical sanctions hurt tech companies, import, export and more.
The only shining fundamental light is interest rate hikes. .50 or .75 or 1 percent make very little difference when the economy revolves around overnight crypto jumps of 100% as a daily thing.
Now let's look at the technicals -
Most overbought weekly RSI 14 that is pretty much imaginable, happened only 6 times in the last 38 years - A rating of around 80.
Horizontal resistance around 103-104 stretching all the way back to 1885 that was confirmed 2020, 2017.
Gold is keeping solid ground at the high 1800's with bullish weekly trend-line kept.
Don't fall for spikes, be smart, trade safe.
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Pandemic damages still lingering and causing shadow of doubt.
Global tensions of war add and economical sanctions hurt tech companies, import, export and more.
The only shining fundamental light is interest rate hikes. .50 or .75 or 1 percent make very little difference when the economy revolves around overnight crypto jumps of 100% as a daily thing.
Now let's look at the technicals -
Most overbought weekly RSI 14 that is pretty much imaginable, happened only 6 times in the last 38 years - A rating of around 80.
Horizontal resistance around 103-104 stretching all the way back to 1885 that was confirmed 2020, 2017.
Gold is keeping solid ground at the high 1800's with bullish weekly trend-line kept.
Don't fall for spikes, be smart, trade safe.
-------------------------------------------------------------------------------------------------------------------------
If you found my idea useful, please like and follow - Would mean the world to me :)
I'll be more than happy to answer any and all questions or comments!
Thank you!!
-------------------------------------------------------------------------------------------------------------------------
Trade active
As expected, DXY is keeping below the 103.80 resistance. Today's FED meeting may cause it to slip down to correction mode.
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