DXY Daily Forecast 11 Sep 23 Forex AcademyDXY Daily forecast to predict the next probability setup.
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Dxytechnicals
DXY IN LONGTERM VIEWHello 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.
DXY - DOLLAR INDEX + NFP DATA TODAY + WEDGE PATTERNDXY
- According to PRICE ACTION there is only one DOWNSIDE BIAS for DXY. However, NFP DATA is due to be released today.
- DXY 96.54 LEVEL can come to LONG TERM according to PRICE ACTIONS. You need JavaScript enabled to view it DXY SELL.
- NFP, UNEMPLOYMENT DATA, AVERAGE HOURLY EARNINGS DATA are very VOLATILE and can be MANIPULATIONS in DXY. Those who trade EURUSD beware.
