DXY (US-DOLLAR with momentum soon!DXY (US-DOLLAR-INDEX) back in trendchannel after a market failed to breakout.
If this double-top-attern gets triggered we could see nice momentum for major-pairs!
Usdollarindexsignals
DXY (US dollar index) Global view WWave Y of WXY model has completed or almost completed.
Afterwards the USD index will rocket to develop up-wave C
P.S Will look into wave Y (of WXY model) in more details on the minor TF
DXY ANALYSISOn my last post i mentioned DXY should drop to that trend and during that drop USD should be weak which actually played out i took advantage of it caught a buy on EURUSD and a sell on USDCAD so now i expect DXY to gain strength so USD should become strong now And i also have a setup for EURUSD sell which is a good correlation EURUSD setup in my next post
DXY ANALYSISAm expecting DXY that US dollar index to get weak So overall i expect all usd to be weak Just an analysis not a trade
US DOLLAR INDEX OUTLOOK FOR 2021dxy still can drop another leg in short term trades , but i don't think it will continue to much lower levels in 2021.
when the equity markets goes for correction (up %40 can be expected) , DXY can spike up over 100 again.
US DOLLAR INDEX - Monthly analysis US DOLLAR INDEX has been on a long term downtrend since 1986.
Price has been consolidating in a rectangular pattern at the downtrend channel resistance.
We could see a bounce off the rectangular pattern support ⬆️ or a breakdown below the pattern support ⬇️.
DXY Trading PlanPattern: Channel Down on 4H.
Signal: Sell once the price approaches the 4H MA50, which has been acting as the Resistance since November 04.
Target: 91.220 (a -0.75% decline from a projected 4H MA50 contact point).
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