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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