Currently this is the most important chart most of the traders eyeing upon - #DXY.
#DXY - an index containing the graphical representation of the strength of USD against major currencies of the World.
We can see the #DXY is enjoying the Parabolic Blow off phase after making DOUBLE BOTTOM in JUNE 2021.
Now , after breaking certain important levels, it is approaching towards MONTHLY level of 120 after Dotcom Bubble in 2001.
As I can see we could possibly have two scenarios to play in the coming days :
1. GREEN - here #DXY will continue its path to 120 giving more pain to Equity markets. 2. RED - here I'm assuming this one to play (anticipating FED's soft behavior towards Rates' Hike), then we could see a retracement towards the 102 allowing Equities to enjoy relief rally in 3-5 months following a major crash globally which could possibly lead to mark the Cycle BOTTOM.
NOTE : - Not a Financial Advice, just my speculation.
Good job buddy, nice chart. My bias is that it will go down and very fast while crypto has a bullish rally until end of 2022. Then it might have a small bounce in the beginning of 2023.
TRADER-GOKU
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@priitzzy, my plasure sir... imo i definitely need some relief, let see