The U.S. Dollar Index (DXY) hit last month a Pivot trend-line (2) and so far is unable to break it. This pivot has started as a Support back in August 1992 and then turned into a Resistance since May 2004 and has been such up to this date.
As you see, the very same pattern with a Pivot trend-line (1), had a similar effect on the multi-year trend from October 1978 to June 2001, which seems to be a similar point to where we are at today.
See how every such rejection on the Pivot as a Resistance has been brutal and the sell-off have been very quick and strong. If that is the case this time too, we should be expecting now a rejection and a massive pull-back to the 1W MA200 (orange trend-line) at least, within 2023.
@Sophiaelias, all the event/info/data to be abosrbed by the chart , u will not ask this if u know the bottom logic
elversatiltav
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It will break that line and continue going up. Might have a small retracement, just to find more buy orders and continue getting new higher highs this same year 2022.