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Cryptorphic
Jul 26, 2022 8:03 PM

DXY reaching 36 years and 8 months old Resistance!!! Short

US Dollar Index® FuturesICEUS

Description

I do not post traditional market stocks nor do I trade but I found this one somewhat interesting.
DXY will soon be reaching its 36 years and 8 months old resistance.
Reaching the resistance it has been forming since Nov 1985 (according to the data provided on tradingview)
It will be interesting to watch the coming months as the US economy is facing tough situations here.
Fall in GDP in two successive quarters.

What do you think?
How will it affect the stocks in the coming years?
I would love to know your views.
Let me know if you want me to look into some stocks.
Do hit the like button, it helps!


Stay safe

#PEACE


Comments
Dinesh_C_Nagpal
DXY is completing most likely its Wave 3 from of the impulse which started in 2008.
Cryptorphic
@Dinesh_C_Nagpal, Nice, Thanks for your chart.
MarcRigiola
Good luck with that trade with the fed tightening due to high inflation and the global economy in a recession while growth is falling off a cliff.
Flying_Dutchman_69
I guess this is invalidated....
SHOOZCOIN
Stocks go up
btaylorrunner
Why would it take three more years to hit 90? That doesn't make sense to me at all. Other charts showing this can happen by next May.
Cryptorphic
@btaylorrunner, This is all speculation. No one knows the future.
Does it make any sense to you?
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