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DXY set for Decisive MoveOn Daily Basis: US Dollar Index (DXY) is correcting after it achieved the target of 109.29 as predicted in earlier published idea. 105.50 is a near term support level which is a test of DXY for further next decisive move. The trend is bullish right now and it should take the support of 105.50 with next probable target of 112 to 114. RSI on weekly basis has come down and on monthly basis it has scope to go to extreme overbought position which means it will be a final up leg. Usually it is volatile top. August or September may prove to be a blow off top in DXY. The ultimate target of 120 may not be ruled out. Warning and Disclaimer: Above prediction should not be taken as financial advise, it is a personal opinion. Consult your financial advisor. Investment is subject to market risks. Past performance is not the guarantee for future performance. It is for educational purpose only.
TVC:DXYLong
by AnkurSharda3
Inverse Correlation Between BTC and US Dollar Economic narratives and dialogues covering crypto and traditional market trends have discussed the hypothesis of inverse correlation between Bitcoin and the US Dollar. As the world’s largest cryptocurrency was created with the vision of decentralized substitution for centralized fiat currencies, we have seen the hypothesis becoming true in the past couple of days. As reflected in the chart, BTC is definitely thriving on a weaker dollar.
TVC:DXY
by TradeDog-Research
Dollar Index Chart over H4 Chart.US Dollar Index in 20-year peaks The index extends the optimism seen at the beginning of the week and trade beyond the 108.00 mark for the first time since October 2002, always underpinned by the unabated sell-off in the euro. The move higher in the dollar comes on the back of diminishing US yields, as recession concerns seem to prompt investors to seek shelter in the safe haven universe for the time being. Friday’s release of the June Payrolls, however, appear to have mitigated part of those worries and now favour the continuation of the current pace of the Fed’s normalization process. Speaking about recession fears, the Atlanta Fed’s GDPNow sees the economy contracting 1.2% in the April-June period (from a 1.9% contraction recorded previously).
CAPITALCOM:DXYLong
by charliedavies770
US Dollar Index in 5th Wave of 5th (E) Impulsive Bull WaveON 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.
TVC:DXY
by AnkurSharda3
THE DOLLAR INDEX MIGHT SEE A CORRECTION OR EVEN A REVERSALthe dollar index might see a sell-off for quite a few while the reasons for it is REASONS 1. on a 1week time frame we are seeing a strong resistance. 2. on the 1day time frame we are seeing double top on the resistance. 3. and on 15 min time frame, we can see a head and shoulder pattern and a descending triangle pattern. 4. if the US market stays positive today we could see and in verse affect the dollar index. so, my suggestion is to stay against the dollar and you could eventually capture a big move
CAPITALCOM:DXYShort
by farhanf7867