jangseohee

DXY, seeking the ultimate resistance

INDEX:DXY   U.S. Dollar Index
685 9 7
Dollar index             is currently contained in the uptrend channel since May 2011 low. After a first round of charge from June 2014, price only retrace 23.6% and found support at 84.71 (look to the left) this is an indicator of strong momentum .
Price will proceed to challenge 88.58 which is the 1.236 Fib level and if rejected, i foresee that price may come back to 86.72-87 for support. If this level of support is strong price will definitely challenge the uptrend channel top resistance.
From my anticipation, the most important life-time resistance is the red region connected from 1985 top. It will leave the breakout part for the time being.

I am more eager to find out HOW SOON price could reach blue resistance if not the red resistance. Depending on the speed, angle steepness of the price, the long term resistance(to be tested at least twice) would be 92 - 93 assuming price can break out from the uptrend channel resistance.

By then i will close in on another update.
Patladj.
2 years ago
Great
+1 Reply
currencywaves
2 years ago
Just posted a DXT chart and looking for the 92.55 area....same thing you are looking for....Nice chart..
+1 Reply
jangseohee currencywaves
2 years ago
share your chart please :-)
One thing to take note, whenever i do some projection on future price movement, i always takes 45 degree movement as an average. But i do not control the chart, i can't be absolutely millimeter perfect in my projection because the steepness (speed) and time factor remain unknown, meaning that the price might
shoot up faster than expected in uptrend resulting in > 45 degree and hence price is slightly higher than projected. If price moves slower than expected < 45degree, then the final price is slightly lower than projected.

Given the strength (steepness) of the current uptrend (narrow channel since Jul 2014), i have no doubt that it will pierce through the green channel top, but i would think the long term resistance from 1985 would mean a world new currency world if broken and go further up.
Reply
jangseohee currencywaves
2 years ago
it has made a long way to this long term downtrend black line, does it still have steam to break it at around 93??
Reply
Patladj. jangseohee
2 years ago
For sure 93, In fact my long-term target is 113. IT's from 2001 resistanse. Not from 1985. I did not understant your 1985 remark.
Allow your margin a -2 points correction and go ahead. Target of at least +10 points is extremely likely.
+1 Reply
jangseohee
2 years ago
about to reach 1.618 target
Reply
jangseohee
2 years ago
anyone shorted besides me?
Reply
AristotelCostel
2 years ago
Very nice... support. :P How did you find it?
Reply
jangseohee AristotelCostel
2 years ago
it continue even higher
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out