I think you can see where I copy and pasted this line bar from. At the end of 1981 / beginning of 1982, the
DXY
crossed over the 100 mark for the first time, then retested and held it as support.
The 100 level has served as rejection in 2016 and 2020. We blasted through it last year, and are now coming down to retest it. Will it hold? Or will it fall below, break down, and confirm as resistance again? If that happens, my idea is negated. But if the DXY holds this level as support, then I think higher is likely, especially due to the "mAcRoEcOnOmIc CoNdItIoNs" -- lol.
Since this is just a line bar copy and paste of the inflation of the 1980's, the timeframe is not the point of this prediction, only the target area. It's highly possible we could approach that area much sooner than depicted here. There will also likely be resistance in the 120 area, if we reject and confirm from there, my idea is also negated. If we go above and retest and hold as support, then the 160 is even more likely.
The DXY is also above the 20, 50, 100 and 200 MONTH moving averages. "Bullish"
Cheers!
None of this is financial advice. But it is fine and chill advice.
DXY
crossed over the 100 mark for the first time, then retested and held it as support. The 100 level has served as rejection in 2016 and 2020. We blasted through it last year, and are now coming down to retest it. Will it hold? Or will it fall below, break down, and confirm as resistance again? If that happens, my idea is negated. But if the DXY holds this level as support, then I think higher is likely, especially due to the "mAcRoEcOnOmIc CoNdItIoNs" -- lol.
Since this is just a line bar copy and paste of the inflation of the 1980's, the timeframe is not the point of this prediction, only the target area. It's highly possible we could approach that area much sooner than depicted here. There will also likely be resistance in the 120 area, if we reject and confirm from there, my idea is also negated. If we go above and retest and hold as support, then the 160 is even more likely.
The DXY is also above the 20, 50, 100 and 200 MONTH moving averages. "Bullish"
Cheers!
None of this is financial advice. But it is fine and chill advice.