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Moshkelgosha

Possible Mean reversion in US Dollar index

Short
U.S. Dollar Index (TVC:DXY)  
Moshkelgosha  
TVC:DXY   U.S. Dollar Index
Trend Analysis Chart Patterns moshkelgosha
3
1
trendanalysis chartpattern moshkelgosha
We can see in the past 3 days DXY pivoting:
snapshot

Why this could be important?

We can see a significant negative correlation in the past 140 trading days in 2022 between QQQ and DXY:

snapshot

In the previous 3 mean reversions, we had a relive rally in Tech:
snapshot

Conclusion:
Generally speaking, a weaker dollar means higher prices in the Stock market, commodities, and stronger currencies against the USD in the Forex market!

Best,




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