Om Namah Shivay
The US dollar index has been on correction from feb 2021 ( from 308 days).
The current structure is complete as it looks from the counting. There could be further sideways corrections or the downward continuation.
These needs to be validated again the invalidation points.
The future of the Dollar index looks running for upward for...
Dollar Index (DXY) is about to shot up - Cautious for NIFTY
I believe the upside room is limited for NIFTY for next few weeks.
NIFTY @ 14644 (Closing 20/01/2021) I expect for next few weeks we may trade below 14800
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.
Dxy on 6h & 4h TF on major support ..can bounce from here.or..if failed to bounce & broke the support ...that means get into stocks ..#bitcoin ... all risk on assets ..for epic euphoria . #fomo
as the dollar index clearly shows a break within the descending triangle . the global markets weakened . if it continues then the indexes might
fall for a correction . have an eye on all your positions . trial your stop losses . be prepared
One of the key drivers of the current rally in Emerging Market and commodities has been weakness in DXY. It is soon going to test the all important level of 87.5-88.5 where it may find support in the near term. We will be closely watching the reaction of the DXY to these levels. While we believe that these levels may eventually be broken but a bounce from that...
The dollar index sold off from the 40dema and daily momentum is on the verge of signalling a sell. As it does and confirms wave 5 down, the minimum projection based on 38.2% of waves 1-3 is to 90.15. If prices continue lower into the end of October to the lower end of the channel we end up at 88.7
U.S DOLLAR DXY INDEX CMP 90
Falling wedge chart pattern formation.
Elliot wave study.
RSI bullish divergence.
Index is on verge to complete impulse phase of elliot wave,, if corrective wave unfolds good rise can be seen.
Support trend line falling wedge pattern around 90 levels ,,with bullish divergence in RSI ,indicate reversal.
U.S DOLLAR DXY INDEX CMP 90 LEVELS
Good long candidate at this levels.
Rounding bottom formation on weekly time frame support around 89.8 levels
Rising parallel channel support around 89 levels
View gets negated below 88.7 on closing basis.
Upside can move to levels 94-96-98-100-103.....
