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Algorithm
Aug 30, 2022 1:21 PM

DXY Topping out on the weekly Short

U.S. Dollar Currency IndexTVC

Description

Its looks as though the DXY is finally topping out on the weekly. Notwithstanding some form of massive macro event it looks as though the Fed is all talk, and that they will slow down or pivot. At the very least the dollar is overbrought and people are taking profits. Wither way this is good for risk assets. I expect the DXY to come back to 101 to 102 in the coming weeks.

TVC:DXY
Comments
Tradersweekly
I am unsure where this one is headed; recently, the dollar has been so strong. Thanks for the analysis, and good luck!
Algorithm
@Tradersweekly, Hopefully it pulls back and the pain ends. Its now a spinning top on the weekly, which reinforces my analysis.
Tradersweekly
@Algorithm, Time will tell; thanks for the feedback.
OluwafisayoAkinlosotu
I highly doubt that…when the dxy drop usd pairs hardly gains,but will a small news event dxy will fly and other currencies will drop dead…..
Algorithm
@OluwafisayoAkinlosotu, Lets see. Popcorn time for sure! Exciting times.
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