$DXY -Ballads of the Dollar *W (11 Consecutive Green Weeks) Its time for a Dollar Story !
(previous lin echart idea 100-105 Range; before & after to the current spot)
The Dollar Index ( TVC: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)
TVC: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 TVC:DXY for the past 11 Weeks,
heavy negatively correlated assets like $EUR/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 ( TVC: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 TVC: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)
