DOLLARINDEX trade ideas
HUGE Weekly CUP and handle formation on the DXY chartThe DXY chart shows the value of the Dollar against all assets, it is said that if the value of the dollar goes up the value of assets goes down and vice versa.
If this plays out we can expect some red days around all assets.
I hope it doesn't play out, else 2022 will be a bear market.
US DOLLAR CURRENCY INDEX VIEW! Hello, US dollar currency index view & analysis on 1w chart index is making upside momentum on 99.750 is resistance level (identified from harmonic abcd pattern 2.0) index can correct from level & above level can go upto 101.700/103.650. (Targets identified from harmonic xabcd pattern level 2.272/2.618) it indictaes FIIs are pulling out money from equity market.
DXY Monthly chart with Macro Fibo from Highest Top and BottomAs you can see from the chart there is two Fibo retracement being drawn starting from 1986 to the current year 2022 and Micro Fibo retracement from November 2019 to current year 2022. Current DXY is near Macro Fibo retracement at 0.5 and Micro Fibo retracement at 0.786.
Meaning we are near to the biggest US Dollar crash in history from DXY index price at 100.400
Conclusion DXY will Crash from 100.400.