Very rarely you will see back to back head and shoulder pattern
Dollar index in daily time frame started with an inverted head and shoulder - gave a false breakout and then formed a head & shoulder again. Will this lead to massive short covering in Indian index ?
Time will tell :) but this is just for pattern lovers
What is DXY? DXY is the U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading partners. This index is similar to other trade-weighted indexes, which also use the exchange rates from the same major currencies.
The US Dollar Index is used to...
The U.S. Dollar Index ( DXY ) rise in the short-term, but will downtrend in the long term.
Jan.06 2021, U.S.Capitol riots
U.S.Dollar index rebounded, because capitol riots that be global markets money entry U.S.Dollar.
U.S.Dollar index rebounded until Jan.20 presidential inauguration, and U.S.Dollar index will downtrend.
Reliability: 3-10 Markets Days.
My name is François Normandeau
Here is an ADX-BRIEFING related to the 10-Year US Treasury Notes .
Currently, on the daily charts ,
all the indicators we are using are mentioning that the US Dollar Index
is currently in a confirmed downtrend.
Historically, there is a strong positive correlation between the US Dollar Index and the US...