DXY double bottom Long

U.S. Dollar Currency IndexTVC

Description

⋅ Aug 23, 2021 4:04 PM

A dohble bottom has been formed in the DXY, this is a classic pattern that indicates change in the trend.

This asset is very technical, so I expect it to respect the classic patterns

If this breaks to the upside to the .38 Fibonacci level (94USD), we may see everythig traded against it will crash.

I am expecting this movement by mid September.

Comments

dmcm10

⋅ Aug 23, 2021 5:58 PM

zoom in, you cant see anything looking at the DXY from outerspace

Ylesc4s

⋅ Aug 24, 2021 4:54 PM

@dcmcmillen10,this way you can see the mayority of the movement and understand why I made that analysis, you can use the + tool bro, just to have more close term perspective. Regards

dmcm10

⋅ Aug 24, 2021 8:17 PM

@Ylesc4s, okay well if you zoom in its clearly a rising wedge, no reason the dollar should be going up after the 650bil SDR release yesterday.... Would've been good analysis back in June right after the double bottom. DXY wont break 94, unless of course there is a black swan event and US equities sell off.