USDX Analysis going into next week's Trading. See Weekly-Chart!
https://www.tradingview.com/x/CHVn41c0/
Buy AAAPL, Buy Googl, Buy QCOM, Buy McDonalds Fast Food.
I honestly have not checked their charts. But they are some of the stocks that must be starting to turnaround in their share prices following the recent sell-off, these companies I would say with their global franchises & operations would be benefiting from a weakening US-Dollar.
You can see in the Weekly chart where USDX is coming down into an area of Support on the Weekly chart & my feeling is that it will start to turnaround this coming week as its very oversold. But of-course if I may hedge my bets a bit, the path of least-resistance is down as it's well under important moving averages, but a reversal is imminent is my feeling.
* Trading/Investing in precious metals, currency's, commodities & stocks is risky. Please don't rely solely on my financial advice.
Buy AAAPL, Buy Googl, Buy QCOM, Buy McDonalds Fast Food.
I honestly have not checked their charts. But they are some of the stocks that must be starting to turnaround in their share prices following the recent sell-off, these companies I would say with their global franchises & operations would be benefiting from a weakening US-Dollar.
You can see in the Weekly chart where USDX is coming down into an area of Support on the Weekly chart & my feeling is that it will start to turnaround this coming week as its very oversold. But of-course if I may hedge my bets a bit, the path of least-resistance is down as it's well under important moving averages, but a reversal is imminent is my feeling.
* Trading/Investing in precious metals, currency's, commodities & stocks is risky. Please don't rely solely on my financial advice.
Note
Finally, on the 4HR chart see where things turned ugly for USDX on 19 August with bearishness relating to an inverted Cup system on the 4HR.
Will the USDX recover quickly. I think it might just move up very quick if & when it does turnaround. I believe that will be very soon but that is my own sole opinion. I have read no other analysis from anyone that this will be the case.
There is bullishness up ahead for USDX including 2 bullish Heads 'n' Shoulders systems up around 1.05 on the 4HR & 1HR.
I believe that this bullish reversal soon in the USDX will keep a cap on the Gold price until you guessed it, about 3 weeks time. What is the current synopsis? 80 to 90% 'in the bag' of an interest rate reduction for the USA, following suit from Canada recently, here where I am, living in the most expensive country in the world, Australia (g'day g'day), they don't seem to have a clue how to control the inflation.
Note
USDX_2024-08-25_06-04-13_091d2.png
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.