US Dollar Index in 5th Wave of 5th (E) Impulsive Bull Wave
ON Weekly Basis:
DXY is entering into 5th wave of the final Impulsive wave E. It is the blow off top and generally Bear market sets in may be with complicated top or straight reversal pattern. July month should be the last Bull phase of US Dollar Index (DXY). RSI peaked at 89 as on 9th May, 2022. RSI shall be lower high and DXY price higher top, generally a pattern to sell. Level of 108 to 110 is the target in the month of July. It may be a blow off top.
ON Monthly Basis:
DXY touched RSI 72 in April'22 which is high but it may pierce by the end of July. Such is an exceptional level on RSI, it may prove to be a final top.
No fresh position should be taken and sell at the target of 108 to 110.
DXY is entering into 5th wave of the final Impulsive wave E. It is the blow off top and generally Bear market sets in may be with complicated top or straight reversal pattern. July month should be the last Bull phase of US Dollar Index (DXY). RSI peaked at 89 as on 9th May, 2022. RSI shall be lower high and DXY price higher top, generally a pattern to sell. Level of 108 to 110 is the target in the month of July. It may be a blow off top.
ON Monthly Basis:
DXY touched RSI 72 in April'22 which is high but it may pierce by the end of July. Such is an exceptional level on RSI, it may prove to be a final top.
No fresh position should be taken and sell at the target of 108 to 110.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.