Chasing DXY - S&P, BTC, XRP

DXY is becoming interesting, with the global views of recession. What's happening in Ukraine, will we see another Covid round? Many traders don't know which way to turn. DXY is a good indicator for majority of the markets - after all, most commodities purchased globally are done with USD. Keep an eye on the following move as this will trigger the SPX rally, Bitcoins 5th wave and many, many more.

Here's a look out on the monthly view;


Stepped down to the weekly;

And finally, the daily.

If your keen on crypto - watching DXY do it's dance is definitely useful. Take a look at the images in this post from a couple of weeks back, you can see how these levels also effect Bitcoin.


Have a great weekend!





Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.